Location is the key
The current and future value of a property all depends on its location. If you are
planning on buying a second home then you might want to consider locations that
attract healthy tourist traffic. Places such as
Cape Verde are lesser known but popular choices, nonetheless, for British
buyers. This is because the coastal region is perfect for a summer home, and the
prices are always in the affordable range.
However, there has been a change in this trend in recent years. A survey of 430,000
holiday home owners has shown that there has been a downturn in purchases
from the beginning of 2008. In 2008, there was a 22 percent drop in annual sales
compared with 2007. Moreover, after the 2009 recession, there was a whopping 80
percent drop in property sales. Most of these drops were seen in locations that
were not particularly popular tourist spots.
It seems Britons nowadays prefer to go the safe route when purchasing overseas properties.
This is why places like Spain, Portugal, Italy and the Balearics which attract a
fair number of tourists every year are now popular locations for buying holiday