Brits remain top foreign buyers in Spain, despite (or because of) Brexit

The latest data reveals that Spain’s property market is back to pre-crisis levels and that British buyers are the leading group of foreigners investing in Spanish real estate.

During the first half of 2018, a total of 53,359 house purchases by made non-Spanish nationals, according to the latest data released by the General Council of Notaries this week.

Fuelling the rise in property prices is interest from foreign buyers with 18.7 percent of Spanish property sales or almost two in every ten property sales coming from abroad.

Buyers are attracted by the coast with house sales on the Canary Islands,  Costa Blanca, Costa del Sol and Catalonia all increasing year on year.

These maps show the biggest groups of foreign buyers by region, with the first showing resident foreigners and the second non-resident foreigners.

“Foreign buyers play an important role in the Spanish property market. Right now, we’re seeing both local demand and foreign buyer demand increase, which is excellent news for the health of the overall market. In terms of foreign buyers, new build homes in sunny, well-established coastal areas are some of the most sought-after properties.” said Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

The latest figures from real estate valuation agency TINSA show a 5.3 percent increase in property prices in the year to October 2018.

Both major city locations and the Mediterranean coastline are faring well, according to TINSA, with rises of 8.5 percent and 6.0 percent respectively.

https://www.thelocal.es/20181116/brits-remain-top-foreign-buyers-in-spain

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