British purchasers bought more homes in Spain during the last quarter of 2017, then investors from any other non-Spanish nation.
The latest statistics from the Spanish Land Registrar’s Association reveal that Brits are brushing aside any fears they may have surrounding Brexit to purchase 2,384 homes during the last three months of 2017.
French and German nationals were the next most prominent buyers of Spanish property in this period, accounting for 1,242 and 1,198 purchases respectively.
British nationals now account for 16 per cent of the total overseas property market share in Spain, double the 8 per cent of French nationals who account for the second highest number of foreign homeowners.
The fourth quarter of 2017 recorded a 20.4 per cent increase in purchases made by overseas buyers compared to the same quarter a year earlier. British purchases in this period accounted for almost 1 per cent of this overall increase.
An announcement in October that British expats living in Spain would face ‘no disruption’ post-Brexit, is likely to be one reason for the increased activity from British purchasers. The improving state of the Spanish property market is arguably the main attraction, though.
The Spanish Land Registrar’s Association figures show that in 2017 there has been a 7.6 per cent increase in average Spanish property prices and a 19.8 per cent increase in home sales in general.
Article published 7th March 2018