Press release

A third of over 50s looking for a place in the sun

Tuesday 6 February 2007

  • Saga launches Overseas Homes service to take the stress out of buying property in Spain
  • For more information about Saga Overseas Homes call 0800 904 7911

A third of people aged 50 are considering buying a holiday home abroad* according to a report by over 50s specialists Saga. Whilst it may only be a second home at the moment, in the future over half (52%) say they may even be looking to move there permanently**.

But while a place in the sun can be tempting, the realities of buying a property overseas can sometimes turn this dream into a nightmare. A third of those interested in buying a property said the main thing that would put them off would be the legal issues, others listed the language barrier struggling to understand local taxes as possible problems.

To help those looking to move to Spain, Saga has launched its own overseas property service, Saga Overseas Homes. It is designed to consolidate all the services needed including estate agents, legal advice and even help with renting out the property if bought as a buy-to let investment. Saga is working with Chesterton and Medsea Estates who are renowned for their knowledge and expertise in this area.

Andrew Goodsell, Chief Executive, Saga commented: "Spain has always been a popular choice for those looking to purchase a holiday home - its sunnier climes, relatively lower cost of living, cheaper property prices and its close proximity mean it is the perfect choice for those looking to get away for a few weeks each year."

"Our research showed that the main concern of those looking to buy overseas were legal issues whilst others expressed concern about the language barriers, which is why we decided to incorporate help with these essential features when designing our service. One of the benefits being that our customers will have the option to appoint an English-speaking lawyer from an independent panel."

Customers who buy new build developments are also offered six-free return flights*** to use between payment of the deposit and completion of the purchase. Also, if people want to rent out their property after purchase, they can advertise on SAGA's website for free for a year.

-ENDS-

Notes to Editors:

* Populus research carried out amongst 17,000 respondants from Saga customers aged over 50 between 13th & 22nd January 2007

** Research carried out by Fieldworks, June-July 2006 - amongst 239 adults over 50

***The free return flights offer excludes travel during the holiday periods, in particular Christmas, Easter and half term. The flights are subject to Saga's booking conditions at all times and are restricted to Saga's flights availability.

For further press information on Saga Overseas Homes, please contact:

For further press information please contact the Saga Press Office on: 01303 771529.

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