Spain is the main destination for Brits buying abroad, attracting 25% of buyers looking for a holiday home. And buyers are prepared to fork out about £116,800 on each purchase, with most opting to buy it outright, rather than with a mortgage.
Two thirds, 66%, of those considering buying a property abroad would buy on the coast, while 23% would prefer the countryside. Only 6% would buy in the mountains and 5% would buy in a large town or city.
The number of future retirees aged between 45 and 64 who would consider purchasing an overseas holiday home has risen to 38% or 5.4 million in 2013, up from 30% before the financial crisis.
While 5.4 million Brits are only thinking about buying property abroad, 10% said they definitely planned to buy abroad.
However, the majority of would-be buyers would prefer to keep their roots in the UK and not move abroad permanently. Nearly two thirds, 62%, would stay in their overseas holiday home abroad for between three and six months a year while 19% would use it for no more than three months a year.
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