Wales is an incredible combination of the marvelous, untouched nature and vibrant life of dynamic cities. Wherever you live, nature will surround you everywhere. Such a mix of natural conditions can satisfy desires of even the most demanding customers. You can spend time playing golf, fishing, diving or climbing. Among other things, Wales, surrounded by the sea, almost from all sides, has very mild humid climate, which attracts a lot of people to buy cottages in Wales for permanent living.
Cottages in Wales and the property market in common
Beautiful nature and rich culture, these are not the only factors that attract people to buy property in Wales. According to real estate market research in Great Britain, only a few years ago the offer to buy property in Cardiff, for example, would interest only the inhabitants of the British Isles, now more and more foreigners become owners of cottages in Wales. In addition, the UK government is extremely inclined to attract large foreign capital, and therefore offers property owners in the UK the right to permanent residence in the country, and, in the long term, the acquisition of citizenship.
The price of property in Wales has always been more pleasant than in the capital of the United Kingdom. But over the past year the situation began to change. According to expert’s portal Rightmove, the price of residential properties in England and Wales increased in 2016 by 0.4 percent. The average price of a house was 300,000 euros. The data also shows that real estate is sold at an inflated price, buyers often have to overpay.
Cottage in Wales – freehold or leasehold?
Freehold estate is the highest title of property; its holder owns real estate and the land on which the property is located, unconditionally and indefinitely. The owner is fully responsible for the proper maintenance of the property. Leasehold means “owning a lease”. Thus, real estate (land, house or apartment) is acquired on a long-term basis by the landowner (freeholder). Unlike short-term renting, the concept of long-term lease implies the right of exclusive possession of real estate for a certain period. Theoretically over 21 years. The vast majority of transactions for the sale of apartments and apartments in England and Wales are held on these terms.
found on the website
www.domaza.co.uk/cottages_in_wales/
