Most people buy abroad to retire or to change their lives rather than investing. Where are they setting their sights on?
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With 53% of preferences as a destination for a move abroad, Italy ranked first.
This is according to an international poll of nearly 70,000 people in over 40 countries, including the US, Israel, Canada, the UK, Brazil, and Argentina.
Spain is the second choice with 22%, followed by Portugal (18%), France (15%), Greece (9%), the UK (3%) and Malta (3%), real estate portal gate-away.com reports.
Boomers and couples: How much are buyers likely to spend?
People interested in moving abroad are generally over 56 years old (81%), and more than one-third (38%) are aged over 66.
Most people interested are looking to buy their new house across borders within a year (37%).
Most of the respondents looking to move to another country (78%) are either married or in a relationship.
The budget differs slightly depending on the nationality.
Germans, Portuguese, Swedes, Brits and Dutch, for example, are keen to spend between €100,000 and €250,000, while the French and Spaniards tend to keep spending below the €100,000 mark.
Gate-away.com tells Euronews that the number of people not willing to exceed €100,000 is growing.
A life change rather than an economic investment
The dealmaker? For most, it's a great view, but not for the French, who tend to prefer a garden over a nice panorama. Properties with balconies are also in high demand.
Over one-third (34.5%) of respondents are looking to reside abroad for at least six months per year. Most of them (46%) are planning to purchase specifically for retirement, while 30% want a life change and 16% a base for the holidays.
Only 6.3% of respondents looking to purchase a home abroad see it as an investment.
The required property size usually ranges between 60 and 80 square meters.
Slow life or bureaucratic nightmare? Why people choose (or turn down) Italy
When it comes to the top destination, Italy, most people are drawn in by its slow life as well as natural and cultural beauty, says the research by Italy-based gate-away.com.
However, the country's excessive bureaucracy and high taxation, as well as its lacklustre economic conditions, do turn people off.
In terms of regions, Tuscany remains the dream for most people interested in Italian properties (17%), followed by Sicily (10%), Lombardy, particularly near Lake Como (9%), Liguria (8%) and Puglia (8%).
The ranking is almost exclusively made up of southern towns, with a few exceptions.
Ostuni is in the top spot, followed by Santa Maria del Cedro, Caltagirone, Noto, Carovigno, Todi, Nizza Monferrato, Scalea, Casciana Terme Lari and San Vito dei Normanni.
Most potential buyers come from the United States (31%), followed by Germany (11%), the United Kingdom (9%), Canada (6.5%), the Netherlands (6%), Sweden (5%) and Australia (4%).
Notably, 38% want to move away from their country due to the political situation. This percentage was significantly higher (52.5%) among American citizens.