A quarter of the way through what looks to be another uncertain year, it’s clear that far fewer of us are looking to move house in the UK. But what about our plans to move abroad?
A Place in the Sun Live Manchester 2023
From the 5,526 people attending A Place in the Sun Live in Manchester earlier this month it seems that there is a surprising of enthusiasm for buying an overseas property.
A survey conducted of 500 attendees threw up some fascinating results. Half the respondents said they are looking to buy a permanent residence rather than a holiday home. That 47% of the attendees were age 55-64, and 17% age 65 or over suggests that the appetite for early retirement is strong. 30% were aged 45-54 and that leaves just 6% under the age of 45. Buying abroad is not a young person’s game right now.
But why were people attending the property exhibition? Unsurprisingly in the light of the above, 70% were seeking information on residency. Half of attendees were looking for advice on what to buy, whilst 69% had a legal enquiry, and 56% were keen on country-specific information or seminars. Only 14% said they were looking for mortgage advice, confirming that cash remains king.
Amongst multiple reasons given for attending, the most popular was general research, and it’s good to hear that 90% of the respondents left the exhibition saying it had helped move forward with their plans.
