Brits buying in Spain 2015
It has been revealed that British buyers account for almost 20% of all Spanish property purchases. New data from the Spanish land registry shows that residents in the UK are purchasing more property in Spain than any other international buyers.
From January to July 2015, 19.8% of all foreign purchasers were British. It’s believed the cheap property prices and the strength of the pound against the euro has been a key factor in the growing number of buyers. Further research showed that approximately 750,000 Britons live in Spain for at least part of the year, due to a range of economic factors including a desirable climate and low property prices. With property prices in the UK constantly seeing year on year growth, the affordability of property in Spain appeals to a much wider market.
The areas seeing the most activity from UK buyers includes the Costa Blanca, Costa Calida, Orihuela Costa, and the Costa del Sol.
Sequre’s managing director, Graham Davidson, comments on the influx of British buyers in Spain -
“Despite Spain suffering during the financial crisis, it has made one of the sharpest recoveries out of anywhere in the Eurozone. Sales are up, along with mortgage lending and rental demand, but property prices are still extremely low and buyers are keen to take advantage of this while it lasts.”
“Coastal areas still remain the most popular areas to buy, with many of the towns having strong English-speaking communities which can be a huge plus for British buyers. Areas like the Costa Blanca and Costa del Sol are in great demand and offer a fantastic range of local amenities, coastlines and golf courses as well as an incredibly warm climate. While property prices in this area are still well below their peak, we would expect to see them start to pick up in the coming months due to the flurry of new buyers.”
Sequre have access to thousands of properties in Spain. We work alongside numerous banks, receivers, agents, developers and house builders to find the best property deals across the country. We offer discounted one-to-one viewing trips to many areas of Spain including Costa del Sol, Costa Blanca, Costa Calida and Orihuela Costa which gives clients the opportunity to view properties and locations of interest in addition to meeting English speaking Spanish lawyers and mortgage brokers. To find out more, call our team today on 0800 011 2639.