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The Great Corona Escape

19.05.21

As this week marks a not-so-fond farewell to the languor of lockdown and we embrace the possibility of (near flung) travel in a world that’s gradually reacquainting itself with the power and the potency of human connection, what, might we ask, does the future hold for the overseas property market?

Lockdown seems to have given people itchy feet, with a record number of Brits searching for homes abroad according to the property portal Rightmove.

The site reported over a million searches for overseas properties in the first quarter – a 16% jump compared to the same time in 2020. The record surge coincided with the UK government stepped time line to ease travel restrictions in the wake of Covid-19 and saw a massive increase in new registrations with the site.

Spain topped the list as the most popular location to buy a property, closely followed by France, which has seen a similar jump in interest. Not far behind were Portugal, Italy and Greece, clearly indicating that Brits are dreaming about escaping to sunnier climes.

Every real estate market worldwide has been affected by the pandemic, but not all negatively. The “survivalist” market - for properties in places where you could live comfortably off grid and self-sufficiently – unsurprisingly are set to become more sought-after than ever and therefore more valuable.

Spain is also seeing a new, younger generation embracing a move. 2020 reported a 143% increase in 18-24 year-olds viewing Spanish property on online portals, supporting the view that there’s a growing momentum among this demographic. ‘Corona-Nomads’ – as they are known – have no mortgage or family responsibilities to tie them down, and can now live and work where they really want to be. Other countries are following suit too, to attract talent. Both Dubai and Mexico have recently launched virtual working programmes to give young professionals the opportunity to relocate and continue to work remotely in their current jobs. This approach is also being replicated in Croatia, Greece and Madeira, all of whom are unveiling incentives to attract foreign remote workers.

The pandemic has also changed the types of locations becoming popular with overseas buyers. Because of the surge in remote working, people can base themselves abroad for longer periods these days, negating the need to be 30 minutes from an airport and making more remote and often cheaper areas of more popular countries increasingly viable – and therefore popular – options.

Abode Affiliates

  • Alleyne Real Estate
  • Blevins Franks
  • Coldwell Banker
  • Crane Resorts
  • Monaco Real Estates
  • RDO
  • St Francis Links
  • Unique Home Stays
  • Yoo
  • Worldwide Dream Villas
  • Enigma Yachts Limited
  • Cornerstone Tax Advisors
  • Pedini London
  • Alexander James
  • Moore Stephen
  • Ibiza Transit Express
  • Oyster Yachts
  • Jumeirah
  • Wall Street Luxury
  • Heron Real Estate
  • Edenhurst
  • MG&AG
  • Gama Property
  • Touch Design Group
  • St Edward
  • Ultra Villa
  • Luxury Italian Living
  • Habitat First Group
  • BDO
  • 7Storeys
  • Worldwide Property
  • Dimora
  • Dominic McKenzie Architects
  • Harry Manning
  • Smart Living
  • Isle Blue
  • MAS Marbella
  • Millgate
  • Jersey Finance
  • guernsey-relocations-logo
  • viberts-logo
  • kpmg-logo
  • author-interiors
  • Wilkinson Beven
  • BoConcept
  • Ante Vrban
  • Deborah Garth
  • You home
  • Ra Shaw Designs
  • Caudwell Collection
  • accanto-interiors
  • Fritz Hansen
  • capital-rise
  • jarrods-staircase
  • neil-davies-logo
  • Tina Shone Group
  • Taplow riverside
  • Aimo
  • ns-ceramics-logo
  • Rusk
  • Consilium Expert Group
  • Ben Krupinski Builder
  • Swoffers
  • Guernsey Relocation Services
  • Douglas Graneto
  • Strutt & Parker
  • wilsons
  • MJC Associates
  • plainspace
  • Fine & Country
  • Bramble Ski
  • Penthouse queen
  • Sarco_Affiliate_Logo
  • taylor wimpey
  • cooper-gardner
  • M Design Architects
  • codan
  • Lovells
  • London DE
  • HELENA JORNET FINQUES
  • Prime Lands Group
  • Bellegarde Estates
  • Sinclair
  • Pippa Paton
  • Ecole d'Humanite
  • Benedek Lewin
  • Inspired Villages
  • Huelin Homes
  • Gaudin
  • Lovells Property
  • Racecourse Lodge Logo
  • Paseo
  • Lemay + Escobar
  • Octagon
  • Locate Isle of Man
  • Newlands of Stow
  • Hawksford
  • Holdun
  • St George's International School
  • Schule Schloss Salem
  • AR Architecture
  • lazaro
  • Sella Concept
  • Blakstad
  • SAREG
  • miller interior
  • Harrow
  • Pearson
  • Wealth Club
  • Yellow House Architects
  • Designer Touches
  • Zafiro
  • Nicole Murray

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