Looking for a second home? UK and Spain top choices: Survey

A Covid-19-induced lockdown and a likely fall in prices of residential property over the next 12 months have presented homebuyers with a unique opportunity, with nearly a third (26 per cent) of the 700 respondents surveyed by Knight

Frank across 44 countries planning to buy their second home.

One in four people surveyed said they were more likely to move in the next 12 months as a result of the pandemic, with most respondents seeking a different property in the same location (40 per cent).

Around 26 per cent said they are willing to move to a different property elsewhere in the same country and 34 per cent of those considering a move are scouting for a purchase abroad (9 per cent of all respondents). The type of property, too, has gained significance, with around 45 per cent preferring to buy a detached family home, with waterfront homes (40 per cent) and rural homes (37 per cent) also remaining in favour. The demand for apartments has, however, remained largely static, compared to pre-covid19 times, with 52 per cent respondents stating their attitude to apartment living is unchanged.

“Nearly twothirds of respondents say they are more likely to work from home after lockdown, which explains why 64 per cent say a home office is now more important,” the survey said.

Among regions, the UK, Spain, and France top the list of preferred destinations to purchase a home, followed by Australia, Canada, Switzerland, and the US. New Zealand, Portugal, Malta, and Norway also ranked high on the preference list.