The Profiles of British Buyers Revealed Through Spanish Property Research.
Middle-aged couple are predominantly buying property in Costa del Sol
Research done into why
buy property in the Costa del Sol and Spain has shown the profile of the
average British home buyer in Spain.
The majority of British expats (74%) are between 45-64 years
old, spend €200,00 on average, and choose homes that are by the sea, according
to the latest figures published by Tranio, one of the largest property agents
in Spain.
The average size of
property for sale in the Costa del Sol and purchased by expats is over 100
square metres and property is most commonly bought in Andalucía, Valencia and
the Canary Islands.
It was also revealed that the British buyers make up 30% of
all foreign purchases on the Spanish property market, making them the largest
foreign demographic. France and Russia make up around 10% each and compete for
second place.
The number of Brits buying Spanish property slowed down a
little in the last decade but it’s beginning to pick up again.
The rise in activity has been helped by a favourable
exchange rate between pounds and euros, a boosted British economy, and great
lending rates in Spain. Overall 30% of the property searches made by British
people on Google were for Spain.
The financial crisis that hit Spain is over and property prices are expected to start rising again. Cleaver investors are buying in Southern Spain and the Costa del Sol once again and growth is expected these coming years.
