4 March 2014
Published by A Place in the Sun on 3 March 2014
House prices in the UK remain restrictive to many first-time buyers.
While a younger age-group dominates those looking to escape the rental market back home, a number of expats approaching retirement are choosing Spain for their first time buy.
With a property market full of bargains, the Costa Blanca is attracting a number of older buyers either priced out of the UK market or used to renting abroad.
Retired British expat Peter Tyler exemplifies a new demographic deciding to buy their first homes there.
Having previously rented in Switzerland and Africa, Mr.Tyler chose a move to the Orba Valley in Alicante.
With three bedrooms, Mr.Tyler’s new home enjoys an 800sqm plot. Despite its initial price of €195,000, a deal with the private vendor eventually saw the property change hands for €145,000!
A British couple were also cited as choosing to buy in the Costa Blanca, having purchased their first home near Villamartin (Southern Costa Blanca) following a period of rental accommodation in Australia.
Inland villages are proving increasingly popular with UK buyers due to their relaxed pace of life and cheaper prices.