Holidays too stressful to organise and pay for
Half of Brits return from their holiday wanting to buy a property
Millions of Brits currently jetting away on the half term holiday will be returning home stressed out from the organisation and cost of the holiday. Three in ten (31%) are considering buying a property abroad, and a quarter (25%)* of them are doing so just to avoid the stresses and strains of the annual family holiday.
More than a quarter of a million Brits currently own a foreign property***, meaning the trauma and cost of holiday arrangements could become a thing of the past.
Indeed, a third of current and potential overseas homeowners believe that owning a holiday home will make family breaks more affordable and a quarter feel it would reduce the sheer stress of arranging holidays.
Mike Freer, Head of Business Development at NatWest International Personal Banking comments: “Holidays should be fun and relaxing but sadly this isn’t always the case. The hassle and expense of arranging holidays can be hugely traumatic - from deciding where to go and remembering to pack everything but the kitchen sink, yet keeping under the new airline luggage weight restrictions. And the holiday itself can be spoiled by dreadful food, poor accommodation, meaning that Brits end up needing another holiday when they return!”
However, as three in ten (29%)* of people do, or plan to return to the same destination each year, it makes sense to consider buying a property there. Over half (52%)* of those who are considering buying a property abroad will look to a place they have already been to on holiday.
Over six in ten (64%)* of those that are considering buying abroad are planning not just to use their new property as a holiday home, but to live abroad there permanently. A fifth (18%)* plan to move when they retire, however 17% want to leave within the next five years.
Mike Freer, Head of Business Development at NatWest International Personal Banking comments: “Buying a holiday home abroad is increasingly becoming the norm for British families. Spain continues to top the tables as the most popular overseas hotspot. While the upfront purchase cost is a huge financial commitment, the long term benefits of holiday homes can be fantastic as they provide great investment potential, a wonderful lifestyle and a permanent escape from the hassle and expense of holiday arrangements. A holiday home can literally pay for itself.”
For further information on the Spanish Mortgage visit: http://www.natwestinternational.com/spain