Number of UK nationals that buy property in Costa del Sol and Spain rises 26% in a year.
Various estate agents working in the Spanish property market have informed that British nationals are purchasing again in Spain, as records at land registries show that this has risen by around 25% since 2014.
Moreover,
the real estate market confirms that the recuperation of the Spanish real
estate market has started again with a great surge in most Spanish regions
especially the resale
property Costa del Sol. With Engel &
Volker’s and Lucas Fox International affirming that confidence in the Spanish
market is high amongst both national and foreign purchasers mainly from
Northern Europe.
In
fact, as indicated by Lucas Fox, the quantity of properties sold to Spanish
nationals has had a big increase with much as 50% last year alone.
The
statistics of third quarter 0f 2015 which were distributed by the Spanish
Property Registrars demonstrate that more than 80,000 homes were bought and
sold between the months of July and September, which was 16% up on the same
quarter in 2014.
Over
that period, the registrars analysis affirmed, the number of purchasers from
the UK was up by 53% – due to a blend of the strong sterling versus the euro,
with affordable and bargain
properties Costa del Sol and coupled with
a strong British economy and the guarantee of rising property prices for Spain
in the future.
In
2007 was the last time the pound sterling was above €1.4, and has started to
reach those figures again.
Spanish
property costs in prime areas are still immensely competitive, particularly if
you place them against any other important key European property locations. An
enhancing national economy is another main consideration – increasing at 3.4%
from July to September, the speediest yearly rate growth since 2008.
Further
reassuring news also has originated from Spanish mortgage expert Mortgage
Direct, which stated that inexorably competitive rates are bringing more
purchasers back to the Spanish property market.
"I
honestly think we are in for an extended period of low rates in the
Eurozone," Kevin Monger, who is the Mortgage Direct broker reported to the
OPP. "The financial climate is still visibly poor in a significant number of
other countries that make up the Eurozone."
Information
that were distributed last year showed that the British buyers were flying in
to the Coast
del Sol on viewing trips and were the
largest purchasers and bought one-fifth
of all Spanish property sales last year.
