According to the financial newspaper “Expansión”, Spain has positioned itself as the most attractive market to invest in a second home, as was revealed in the study conducted by real estate consultancy Savills and the vacation rental platform Home Away.
Expansion points out that in the report 19.3% the survey-respondents would choose Spain to acquire a second home, ahead of runner up Portugal with 13.2%, and France which came in at third place with 13.1%.
44% of the people that own a second home in Spain are foreigners, according to the report consulted by the newspaper, which states that the main countries of origin of these second home owners are the United Kingdom (19%), Germany (12%), Netherlands ( 4%), France (3%) and Belgium (2%).
Furthermore, the study indicates that the behaviour, at the time of acquiring a second home, is different depending on the country of origin, the British and Dutch are the ones that acquire most secondary homes outside of their country, compared to the Spanish, Italian and Portuguese second-home-owners, who prefer –to a 95%- their own country of origin when acquiring a second home.
As for the situation of this sector in Spain, the newspaper details that according to the study, the price of the second property averages at 245.000 euros in 2017, 22% less than ten years before.
Lastly, 28% of respondents said they financed the acquisition of the second home personally of, whereas 52% acquired it through a mortgage, and 8% came by the property through inheritance or donation.
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