52% of UK relocators prefer the Algarve
A recent survey by UK overseas property magazine A Place in the Sun has found that out of the British respondents who are looking to buy property in Portugal, around 52% of them “want the Algarve” while 32% are looking for houses on the Silver Coast.
These are just some of the findings of the survey which primarily tried to establish whether “house hunters” are still looking to buy properties abroad despite the new challenges posed by Brexit and the Covid-19 pandemic. The answer was a resounding yes.
“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,” the magazine reports.
Research also shows that 13% of respondents are looking to buy earlier than planned at this time last year, and that over 60% have increased the amount of time they are spending researching overseas properties during lockdown.
Adds the magazine, the top go-to areas for research are “reading informative news articles, using social media, downloading material such as buying guides, and watching webinars.”
The survey also found that 74% of those queried are looking to purchase properties in the European Union despite Brexit, although just 14% believe that the changes brought by Brexit have been successfully communicated by the government.
Instead, “house hunters” are looking to websites, newspapers, webinars as well as government sources to get their information.
And while Portugal is among the top three destinations singled out, Spain accounts for most of the interest (61%), followed by France (12%) and Portugal (6%).