Spanish Property Sees Steep Rise in International Interest.
13 April 2016
Since Europe began recovery from the 2008 property crash, international property experts have consistently reported on Spain being one of the best locations in the world to purchase overseas property – and buyers have certainly taken notice.
Spanish property information site, Kyero Data, has reported an impressive start to 2016, with a 25% rise in property enquiries from overseas buyers in Quarter 1 2016, compared with the same period in 2015.
Up-to-date information shows international property buyers logged over 100,000 enquiries between January and March 2016. The Canary Islands have seen the strongest growth, while Alicante still maintains its position as the top spot for overseas investors, with over 33,000 enquiries.
Amongst overseas buyers, Brits are still by far the most abundant, generating over 62,000 property enquiries in Q1 2016 – an increase of 30% from last year. It seems that the uncertainty surrounding Britain’s future in the EU has not deterred British buyers’ interest in Spanish property.
Other European nations have shown similar trends, with Dutch enquiries rising by 18%; Swedish - 25%; Italian - 28% and German enquiries into Spanish property rising by an impressive 53%. A noteworthy exception to this trend is the 9% decrease in enquiries amongst French buyers.
The significant increase in international interest is accompanied by a positive few weeks for the Spanish property market’s domestic demand. Recent improvements in mortgage approval data, combined with a consistent decline in unemployment rates have strengthened Spain’s property market and lead to a noticeable climb in property enquiries amongst Spaniards.
With both domestic and international demand looking strong, the future continues to look bright for the Spanish property market.