Caxton Buying Property Abroad - Travel Money

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The best countries to purchase property abroad


<p><span style="font-weight: 400;">The Coronavirus outbreak and subsequent lockdown period has left us all appreciating life a lot more: our health, our families, as well as our ability to travel the world.</span></p> <p><span style="font-weight: 400;">Many estate agents have reported a surge over the last few months of people searching for properties overseas. We’ve conducted some research to find out firstly whether </span><a rel="noopener" href="/travel-money/is-it-a-good-time-to-buy-a-property-abroad/" target="_blank"><span style="font-weight: 400;">it's a good time to buy at present,</span></a><span style="font-weight: 400;"> as well ascertaining the top 4 countries to buy a holiday home abroad:</span></p> <p> </p> <h4><strong>Spain </strong></h4>

catalonia-spain-travel-money_bw.jpg <p><span style="font-weight: 400;">Spain is one of the top destinations for Brits buying property abroad. Statistics from early 2020 show that there were as many as 678,000 british expats living in Spain.* </span></p> <p><span style="font-weight: 400;">Lockdown seems to have been a catalyst for encouraging people to reconsider where they live or whether the UK is where they would like to remain. </span><a rel="noopener" href="https://www.rightmove.co.uk/" target="_blank"><span style="font-weight: 400;">Rightmove</span></a><span style="font-weight: 400;"> reported that searches on  properties in Costa del Sol, Spain were up 34% year on year during May.</span></p> <p><span style="font-weight: 400;">Madrid and Barcelona were other popular destinations in Spain, however, also the most expensive. </span></p> <p><span style="font-weight: 400;">Whether it be the serene beaches, warmer climate, or overall Spanish lifestyle; this country is definitely the front runner for purchasing property overseas. </span></p> <p> </p> <h4><strong>Portugal </strong></h4>

<p><span style="font-weight: 400;">Another popular European country that attracts Brits who are looking to buy property abroad is Portugal. </span></p> <p><span style="font-weight: 400;">This country is blessed with beautiful landscapes and climate, which makes it a logical choice. </span></p> <p><span style="font-weight: 400;">However, the most beneficial aspect of purchasing property in Portugal is its 10-year non</span><i><span style="font-weight: 400;">–</span></i><span style="font-weight: 400;">habitual resident (NHR) tax programme. The NHR is a 10-year tax regime for expats living in Portugal, which offers reduced tax rates and other exemptions. This makes buying property in Portugal a no-brainer!</span></p> <p> </p> <h4><strong>France</strong></h4>

<p><span style="font-weight: 400;">The convenience of neighbouring this beautiful country is what makes it an apt choice for a holiday home. </span></p> <p><span style="font-weight: 400;">You can get to France as quickly as a 35 minute flight or a 1.5 hours ferry ride from England - which means travel costs are kept at a minimum, making it extremely accessible. </span></p> <p><a rel="noopener" href="https://www.rightmove.co.uk/" target="_blank"><span style="font-weight: 400;">Rightmove</span></a><span style="font-weight: 400;"> reported that throughout the month of May, property searches in locations such as Dordogne and Brittany in France were also up by 33% from last year.</span></p> <p><span style="font-weight: 400;">Want to spend a week by the coast? Head down to the serene seas of Nice. Want to get your culture fix in a bustling city? Their capital city of Paris boasts oodles of tourist activities, top-tier restaurants and unforgettable landmarks. France seems to tick every box.</span></p> <p> </p> <h4><strong>Turkey</strong></h4>

<p><span style="font-weight: 400;">Last but by no means least, the final destination to make the Top 4 countries for buying property abroad is Turkey. </span></p> <p><span style="font-weight: 400;">Turkey would be a great option for anyone that’s hoping to get bolthole elsewhere, however, also needs to remain cost-conscious. </span></p> <p><span style="font-weight: 400;">According to a report by </span><a rel="noopener" href="https://www.rightmove.co.uk/overseas-property.html" target="_blank"><span style="font-weight: 400;">Rightmove Overseas</span></a><span style="font-weight: 400;">, the cheapest place to buy a property in Europe is Turkey, where the average inquiry price is only £82,000. The most popular locations include Mugla, Antalya and Istanbul. </span></p> <p> </p> <h4><strong>International Payments</strong></h4> <p><span style="font-weight: 400;">If the idea of a bolthole in the sun peaks your interest, or simply if you have overseas payments to make, Caxton’s </span><a rel="noopener" href="/international-payments/" target="_blank"><span style="font-weight: 400;">International Payments</span></a><span style="font-weight: 400;"> team can assist with any queries you may have. No matter how large the sum of money, or how frequent the overseas payment, we’ve got you covered.</span></p> <p><span style="font-weight: 400;">Gain access to a dedicated account manager to help you with any questions - contact our Payments team today on 0333 123 1815.</span></p> <p style="padding-left: 30px;"><a rel="noopener" href="/the-best-prepaid-currency-card-and-account/" target="_blank"><span style="font-weight: 400;"><img style="width: 500px; height: 125px;" src="https://mediaumbraco.blob.core.windows.net/img/1099355/caxtoncard-promo-banner-03.png?width=500&amp;height=125" alt="" data-udi="umb://media/6df25084aa984b97abc05767425af66b" /></span></a></p>

Chloe Stevens

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