Expert Corner - Laura Richards, Country Specialist at Spain Property Guide

The spotlight is certainly shining on Spain at the moment, as the most popular European country for overseas buyers. 

Image
The spotlight is certainly shining on Spain at the moment, as the most popular European country for overseas buyers. We experienced an 81 percent increase in interest in 2015 compared to 2014, by way of downloads of our Spain Buying Guides. Spain now dominates enquiries received by the Overseas Guides Company, making up 33 percent of overall enquiries.
 
The surge in interest throughout 2015 was partly due to the very favourable sterling/euro exchange rate, in particular during the summer, when it peaked at £1/€1.44, as well as mortgage lending opening up again in the Spanish marketplace and particularly low mortgage rates offered within the Eurozone. These record low interest rates are tipped to continue throughout 2016. This combination of factors, along with the continued improvement in and growth in the Spanish property market, has made it even more appealing and indeed easier to buy a holiday home or move to Spanish hotspots.
 
It is more appealing and indeed easier to buy a holiday home or move to Spanish hotspots than ever before
 
Recent figures from the Council of Notaries show that sales in Spain have increased for 18 months in row. The Spanish Costas remain the most popular areas with overseas buyers and property investors. The Costa Blanca is popular with investors, and still has a wide range of good quality, reasonably priced properties. Recent figures from the Organisation for Economic Development (OECD) actually showed that the Spanish property market was undervalued by a shocking 26% - so now is the time to bag that bargain!
 
Málaga – Marbella in particular – is seeing increasing demand for properties – particularly new builds – and prices are on their way up, showing that the Spanish property market is back in good health. In addition to a steady stream of British buyers, there has been increased investment in Spanish property from buyers from France, the US and the Middle East. 
 
Prices are on their way up, showing that the Spanish property market is back in good health
 
The Canary Islands are also enjoying renewed popularity, filling a gap for tourists and holiday home buyers left by previously popular destinations, such as Turkey and the Red Sea in light of these countries’ political uncertainty. Visitor and homeowner numbers are noticeably up in Tenerife, the most popular of the islands with expats.
 
These are all very positive signs for those of you wanting to achieve your dream of buying that holiday home in Spain. Do get in touch if you are planning to buy in Spain or the Spanish Islands and need help to do so safely and successfully. Our team are here to help at every stage and can recommend other professionals to help you, who you can really trust.

Further reading for Living In Spain

Image

Finding work

There are a number of ways that UK expats can fund their lifestyle in Spain.

Read more..

Image

Social life in Spain

Find out as much as you can about your new community and find new friends.

Read more...

Image

Heathcare

Arrange health insurance and locate your new local hospitals and practices.

Read more...

Image

Education in Spain

Emigrating with school-age children? Learn more about schooling in your local area.

Read more...