Monday, March 1, 2010

Lifestyle buyers still favor Spanish properties

Property buyers looking for property overseas are now primarily purchasing for lifestyle reasons rather than investment, it has been claimed.

According to Paul Collins, property editor of, the lifestyle aspect of foreign investment is becoming more important nowadays. He said that buyers aren't tending to buy for investment these days so the lifestyle aspect of things is really coming to the fore.

Mike Hamilton, managing director of Casas de Lorca reiterated Mr. Collins comments that the "true Spanish lifestyle" is appealing to a number of Brits. He said that people looking for Spanish property tend to want to integrate with locals, enjoy the "rolling countryside" and learn the language, which Spain can offer to those house hunters.

"I find that a great deal are drawn to the country for its lifestyle and therefore are looking for the 'true Spain' over and above more well-known 'Britain in the sun'-type resorts," he added.

In more good news for Lifestyle buyers that experts have stated that they could snap up properties in previously unaffordable markets as house prices in many parts of Spain have been in decline for more than a year. This means that property values in places at the top end of the market, such as Marbella, are now within the reach of more people. However, Spain's lifestyle attractions are still in place, which means it is still just as appealing to those who want a residence for personal use, According to Shelter Offshore reports.