1 in 5 Buyers in Spain is British! – Comaskey Properties

According to new figures released by the Spanish property land registry, 1 in every 5 of Spanish properties sold in the first nine months of 2015 were sold to British people.

The recent “A place in the Sun” exhibition suggested that Spain is again the number one destination for Britons looking to invest in a foreign home with 750,000 of them now living all or most of the year in Spain.

The strong pound makes investing in Euro land appealing but the value for money that buyers see is not the whole story. Accessibility, new routes and the expansion of Alicante airport announced by Ryan air for example, the weather, cost of living and the increase number of new builds are big attractions for British buyers too.

The most popular areas for corporate investors who are buying blocks of apartments from Spanish banks are naturally the cities of Madrid, Valencia and and Barcelona while “ordinary” buyers are heading to the Costa Blanca where the average price is 100,000 euro or just over 70,000 pounds and Costa Del Sol, where the prices are that bit higher.

The Colegio de Registradores also tells us this month that the trend of Russians selling their property in Spain is continuing as is the large influx of Scandinavian buyers. Still it appears that Chinese investors, the ones the Spanish Government really want to get here are slow to start buying in any great numbers in Spain.

The complicated “Golden Visa” programme which we spoke about previously is getting the blame.

Perhaps we are one of the few estate agents on the Costa Blanca who have successfully processed Golden Visas this year?

The most popular age of investors in Spain is a surprising 55-64, almost half of the enquiries at the “A Place in the Sun” were in this age bracket, with 45-54 making up 30% of property enquiries.

I moved to La Zenia in my late 20´s and often wonder why more younger people do not relocate here to get out of the rat race back home. Surely thats the right age to invest their money in property and surely living here is a valuable life experience that more young people should be taking up?

The price of property in and around the areas of La Zenia, Cabo roig, VillaMartin etc. where Comaskey properties are most active have dropped on average 50% since the boom years of 2004-2007. New builds are increasingly popular on the Costa Blanca and if you are looking for the best deal on the market…. Just contact us.

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