Thousands of Brits could soon be looking into making a return from overseas as their dreams of retiring to the sun are hit by falling house prices, new figures suggest.
According to new figures from the Spanish
property specialists Colonial, the number of
house sale transactions seen in Spain over the course of May was 34 per cent lower than for the same month last year.
What's more, with around 1.5 million homes lying empty after a construction boom failed to generate the desired number of buyers, experts fear that prices could fall by up to 30 per cent within the next few years.
While some observers have urged
Brits abroad to hold tight and ride out the storm, already some are starting to head back
home, or else downsize their
overseas property so as to better protect themselves against further
price falls.
Anyone thinking of returning home, especially for a short time while they see how the European property markets develop, could benefit from making use of secure storage accommodation.
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