Why now is the perfect time to start planning your dream place in the sun!
Sitting at home, the magic of Christmas over for another year and our thoughts soon turn to the months ahead. Will 2025 be the year that you finally put your hazy plans into action? Were you having exactly the same conversations a year ago about buying that place abroad?
It could be that events of 2024 have strengthened your resolve. Maybe it’s personal and unfortunate circumstances have resulted in a sense that you just need to crack on with those half-baked dreams whilst you can. Perhaps such an event has led to the financial means to finally do so. I wager you’ll hear these sentiments a few times in the new series of A Place in the Sun this month.
Currency matters
But perhaps it’s due to wider changes in the UK and also property markets. First up, there’s the fact that the pound is at its highest rate against the euro for two years. At the time of writing it’s €1.21 to the £1 and with UK political stability, there are predictions that the pound will stay strong, or even rise higher. Make the most of this market by taking advice from A Place in the Sun Currency about when to transfer funds abroad.
Taxing times – at home
Changes to employer National Insurance contributions, inheritance tax, stamp duty and VAT on school fees are all making a lot of people poorer. Over 10 million pensioners will not receive their winter fuel allowance this winter. Average rents increased by between 8-10 per cent in England during 2024. Inflation is on the rise again – the cost of living in the UK has become a reason to look at alternatives elsewhere for many people.
Tempting tax perks – away
Could you be better off abroad? Many people are asking themselves this question. If you are unsure about tax scenarios in check out the country-specific guides in our relocation section. If you are retiring and are keen on a low rate of taxation on your pension income then check out Italy, Cyprus and Malta. If you are a company owner or remote worker contemplating Spain, have you looked into Beckham’s Law? It’s no secret that Dubai has no personal income tax…
Lower property prices abroad
Whilst the UK property market seems to have picked up again as interest rates have dropped a little, they are still higher than many places in southern Europe. In Spain your average property search budget is £167k, in France £176k. Francophiles should note that the two-year French market dip is showing hints of levelling out, but there are plenty of price reductions at the lower end of the market in nice parts of rural France. Try the Limousin and Poitou-Charentes.
Quality of life – the new you
Whether it’s increasingly wet, or just grey, winters, the allure of escaping northern Europe during January and February is real. Being outside in balmy days of 15-20 degrees certainly helps you to be more active whether a walk along the beach, a game of padel or a round of golf. Make this the year to get in shape helped by your new home abroad – if you don’t believe the hype, read how it worked for Carol and Phil in Murcia. Or maybe you just want a different kind of new project? Buy a cave home and turn it into a holiday rental, run a gite or just take your business to Spain and run it from there!
Take action now!
Book a ticket at one of our upcoming exhibitions, watch a webinar or read more articles for inspiration, download a buying guide or just browse some properties…
