Online searches in the UK for properties in France and Spain have increased dramatically during the lockdown period, according to estate agents.
The website Rightmove has reported that searches for properties in both France and Spain were up by a third when compared against data recorded in May 2019. The Costa del Sol, Ibiza, the Dordogne and Brittany are proving to be particularly popular locations. Portugal has also attracted a high level of interest.
To a large extent, this leap in the figures can be attributed to ‘window shopping’ with people compensating for missing out on their summer holiday due to the current travel restrictions or seeking distraction from the boredom of lockdown. However, some international property searches will be driven by a genuine interest in relocating overseas or purchasing a holiday home.
There are, of course, significant barriers faced by anyone interested in buying a property in France or Spain at the present time. International travel is subject to very tight restrictions – airlines are operating at a vastly reduced capacity and lockdown measures are still being imposed that limit the extent of travel within some countries. However, the pandemic may have prompted some people to reassess their plans for the longer term and this may involve buying a property abroad. These statistics possibly provide some evidence of that.
However, it’s probable that the investment will be severely limited in the coming months. The length of the lockdown and the associated limitations on the movement of international buyers, coupled with the avoidance of a second wave of infections will be crucial in determining exactly when it can begin.
Ultimately, if you are considering purchasing a property in France or Spain, it’s important to seek legal advice before taking any action to ensure that your dreams can be made reality.
