It seems that despite interest rate rises in the UK, Britons still can't get enough when it comes to buying holiday homes.
According to Parador Properties, Spain and France are the most popular second home destinations for Brits. Separate research confirms a rise in properties being purchased abroad by almost 500% in the last 5 years.
Our View
In our opinion, property prices are now too high abroad, just like they are at home. Properties are not selling as fast as they did and this will result in a fall and negative equity for many.
For those remortgaging at home to buy abroad, beware. If interest rates rise, will you really be able to afford the repayments? Think very carefully and maybe wait for prices to fall.