With 870 miles of coastline and more than 1,500 square miles of national parkland, Wales, a country smaller than New Jersey, punches far above its weight when it comes to second-home ownership thanks to a combination of natural beauty plus affordability.
There are 24,200 second homes in Wales, or 1.8% of its total housing stock. according to research by Savills. The Welsh county of Gwynedd, which includes Snowdonia National Park and a stretch of western coastline, has the highest level of holiday homeownership of any county in the U.K at 8.4%. The second highest levels are found in Pembrokeshire, with 6.8% of homes owned as vacation properties
Agents suspect that, after months of lockdown, these numbers could increase as British buyers rethink both their lifestyle and the traditional English second-home destinations such as Cornwall. “It has gone completely berserk here. Everyone just wants to escape,” said Carol Peett, managing director of West Wales Property Finders.
“Wales has everything Cornwall offers and it is less crowded and less expensive,” she said. ………
Around half of Ms. Peett’s clients are second-home buyers, the majority from London. Their budgets range wildly. Some want a pretty two-bedroom cottage in a seaside resort such as Tenby, in Pembrokeshire, which Ms. Peett estimates would cost around $293,600, while others have seven-figure sums to spend on modern trophy homes…………
Some are concerned that second-home buyers boost prices out of the reach of locals. But Ms. Peett says the two markets operate separately, with local buyers seeking different sorts of property than that sought by second-home buyers. “In fact, young families tend to want modern houses near where they work,” said Ms. Peett. “There is no crossover.”…………
Wall Street Journal – 2nd September 2020 https://www.mansionglobal.com/articles/second-home-buyers-are-flocking-to-wales-some-locals-aren-t-happy-about-it-142432
If you are looking for a second home in Pembrokeshire, Carmarthenshire or Ceredigion, or to move here, give West Wales Property Finders a call on 01834 862816. http://www.westwalespropertyfinders.co.uk We can find your perfect property for you whilst saving you time, stress and often money too.
