British holiday home buyers are returning to the traditional locations of France and Spain when looking for property, according to a new survey.
The two countries, which have long been popular holiday home destinations, made up 55 per cent of all currency transactions for buying property, according to the latest study from currency specialist HIFX.
In recent years, France and Spain have had to deal with competition from newer hotspots in the Eastern Bloc, according to HIFX, but the countries seem to have made a resurgence.
According to the study, the number of enquiries for property purchases in newer hotspots such as Bulgaria, Morocco, Dubai and Cyprus either remained the same or went down.
“Despite a fair amount of dabbling by investors in some more exotic locations, old time favourites France and Spain are still the first choice for British buyers looking for a holiday home or retirement home,” said Mark Bodega, marketing director of currency specialists HIFX.
“With the markets in both countries having slowed down over the last 12 months, we are seeing some really good bargains coming up, and it seems that many canny Brits have also spotted this and are beginning to return to these traditional overseas markets in increasing numbers.”
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