BRITS STILL HEAD THE LIST OF INTERNATIONAL BUYERS OF SPANISH PROPERTY

According to the latest data from the College of Registrars, around 13% of all property purchases in Spain in 2014 were made by international buyers, a year on year increase on the 2013 figure of just over 11%, and the fifth consecutive year of growth.

Of those international buyers, Brits were, once again, the biggest investors with around 17% of all property transactions registered in 2014. This figure was leaps ahead of other nationalities with the French taking 10% share, the Russians with 7.5% share, followed by the Belgians (7%), Swedish (6%), Norwegians (4%), Chinese (3.5%), and Romanians (2.5%).

The College of Registrars suggests that there will contnue to be strong demand for Spanish property from international buyers for the forseeable future and the strengthening in demand for property in Spain suggests that international buyers are growing in confidence when it comes to the Spanish housing market. Spain is seen not just as an attractive tourist destination but also a great opportunity for investors following the dramatic reduction in property prices since 2007. Average property prices are some 43% off their 2007 highs and are currently considered undervalued.

The majority of international buyers come from the Eurozone, so the drop in the value of the Euro does not affect them. However, the the Brits have benefitted in recent months due to a strengthening of Sterling against the Euro. Coupled with cheap Euro mortgages, quantative easing, and Spanish banks returning to their traditional business of lending, there has never been a bigger incentive for international investors to dig deep and buy property in Spain.

Filed under: http://www.theleader.info/article/46469/

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