Brits Buy Property Overseas to Avoid Stress

Research from NatWest Bank has revealed that holidays designed to give Brits a relaxing break from their busy working lives can actual cause more stress according to homesworldwide. Millions of Brits returning home exhausted by efforts of organising a holiday, finding accommodation, and dealing with the cost of the holiday.

As a result, the bank states that three in ten people are considering buying a property abroad, and a quarter of them are doing so just to avoid the stresses and strains of the annual family holiday.

According to the Office for National Statistics, more than a quarter of a million Brits currently own a foreign property, meaning the trauma and cost of holiday arrangements could become a thing of the past.

Indeed, a third of current and potential overseas homeowners believe that owning a holiday home will make family breaks more affordable and a quarter feel it would reduce the sheer stress of arranging holidays.

This is particularly true in countries where holiday homes are already an important part of the property market, such as Spain, as it means that developers and estate agents are used to dealing with British investors.

Mike Freer, Head of Business Development at NatWest International Personal Banking, says, “Holidays should be fun and relaxing but sadly this isn’t always the case. The hassle and expense of arranging holidays can be hugely traumatic - from deciding where to go and remembering to pack everything but the kitchen sink, yet keeping under the new airline luggage weight restrictions. And the holiday itself can be spoiled by poor accommodation, meaning that Brits end up needing another holiday when they return!”

However, as three in every ten people plan to return to the same destination each year, it makes sense to consider buying a property there.

Mike Freer says, “Buying a holiday home abroad is increasingly becoming the norm for British families. Spain continues to top the tables as the most popular overseas hotspot. While the upfront purchase cost is a huge financial commitment, the long-term benefits of holiday homes can be fantastic as they provide great investment potential, a wonderful lifestyle and a permanent escape from the hassle and expense of holiday arrangements. A holiday home can literally pay for itself.”