House hunters still want to buy abroad despite Brexit and COVID-19
2020 was a monumental year for the overseas property industry, and new research by A Place in the Sun has revealed that, despite uncertainty caused by Coronavirus and Brexit, Brits still want to find their very own Place in the Sun.
Our quarterly survey of almost 7,000 respondents found that 76% of house hunters say that Brexit has not put them off buying in the EU, and 30% are now more motivated than ever to buy a property overseas as a direct result of COVID-19.
Whilst lockdowns and travel restrictions have made international travel more difficult, and largely put a stop to viewing trips, Brits have been using the last year to accelerate their buying plans.
Perhaps as a result of staying at home for increased periods of time, the pandemic has got us dreaming about sunnier climes, with more than 60% of people increasing the amount of time they spent researching overseas property during lockdown.
The impact of Brexit - With Brexit making the headlines almost daily throughout 2020, the UK’s departure from the European Union has also been at the forefront of many house hunters’ minds. 73% of those surveyed are planning to buy in the EU, however, just 14% of people believe that changes in regulations and restrictions brought about by Brexit have been successfully communicated by the government.
Instead, house hunters are turning to social media, news articles, webinars and websites like aplaceinthesun.com - 66% of those surveyed found information provided by aplaceinthesun.com about buying a property overseas post-Brexit “very or extremely useful”.
Take a look at the full findings in our handy infographic to find out more about our changing attitudes to buying abroad, as well as where Brits are planning to buy a property, and the most popular budgets!
Report date: 16 April 2021