Spain is the top choice for investors seeking a second home overseas according to a recent survey conducted by a global holiday rentals platform.
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Spain ranked first amongst amongst those surveyed with 19.3% of respondents stating they would choose to purchase a holiday home on the Spanish shores, pushing Portugal and France in to second and third places with 13.2% and 13.1% respectively.
The survey also revealed that foreigners own almost half (44%) of second homes in Spain. The largest number of overseas holiday home owners, accounting for 19%, hail from the United Kingdom, followed by Germany with 12%, the Netherlands with 4%, France with 3% and Belgium with 2%.
In terms of location, the most popular areas for holiday homes in Spain are understandably on the Mediterranean coast and the islands, with the Costa del Sol, Canary and Balearic Islands taking the top three spots. The most popular properties were two bedrooms and the average price for a holiday home purchased in Spain was 245,000€, 22% lower than the average a decade ago.
Of all second home owners in Spain, 66% subsidise their investments – or in many cases profit from them – by renting them out for an average 19 weeks per year to earn an average 12,000€.