British Demand for Spanish Property up 29% in Q2

British Demand for Spanish Property up 29% in Q2

Demand for Costa del Sol Property will always be in demand.

While the British demand for Spanish property has always been pretty high there has also been a lot of demand from Swedish buyers this past year. Some experts are actually a little surprised by the British interest in Spanish property as it was believed that the Brexit would scare many British buyers away.

It looks like there hasn’t been much of an impact, if any, on the market. The official data shows that Spanish home sales in Spain during the second quarter of 2016 was up by just under 24% compared to last year, reaching a total of 107,838.

The second quarter of the year also saw that there was a sharp rise of 29% in British buyers compared to the second quarter of last year, according to the data from the Spanish Property Registrars.

93,409 of these homes were sold to Spanish nationals which also shows the strengthening of the domestic economy. The amount of Spanish buyers also was also up just under 23% on last year.

After the Spanish came the Brits, who made up 20% of all the transactions that didn’t involve a native. Next came the Germans with 8%, following up by the French and the Swedes who both made up 7%.

The emergence of the Swedes is proving to be somewhat of a surprise as Swedish demand for Spanish investment property was up a whopping 60% compared to last year, while demand with the Italian market was up 46% compared to 2015. Chinese demand has also increased year-over-year by 31% followed by the Brits and Germans with their 25% increase and a 12% from the French.

For the most part it looks like almost all the most loyal consumer groups had a higher demand for Spanish property between 2015 and 2016. The only regions that really cooled on the Spanish market were Russian and Norwegian buyers, who dropped their demand by 1% and 2% respectively.