MAJORITY OF BRITISH EXPATS IN SPAIN HAVE CONSIDERED RETURNING HOME

In a recent survey, carried out by a financial services company, it was surprising to find that 74 per cent of those living in Spain have considered moving back to the UK. The reasons is the economic crisis which has meant falling property prices, a weak pound, and fears over job security which has made those living in Spain rethink the move.

Britons living in Spain have suffered the most financially, especially those relying on a pension from the UK, with four in five complaining that the drop in the value of the pound against the euro has left them a lot worse off. Brits living in Spain are particularly affected by the struggling property market as many own more than one place and have in the past been able to rent it out without too much difficulty.

Now with many more properties available, the incomes have dropped and there are less people around looking to rent. People who own property abroad have seen the problem compounded by a dramatic fall in the real estate market, particularly in Spain, where prices on the Costas have dropped as much as 65 per cent in some place but seem to have bottomed out and are slowly creeping up.