Spanish property bounces back for first time since boom years

 

Foreign demand for property in Spain saw a major surge in the fourth quarter of 2017, led by British buyers returning to the market who appear undeterred by the prospect of Brexit.

Spain was the European property hotspot for overseas buyers looking for second homes, as well as relocation, back in the heyday before the financial crisis, after which buyer numbers plummeted significantly as the knock-on effects were felt across the world.

However, the latest figures from the Spanish Registrar’s Association show that Spain’s property market rose back to 2007 levels in the final quarter of 2017, with a 19.8% rise in home sales while foreign demand rose to 15,266 registered purchases – a 20.4% annual increase from Q4 2016. House prices in the country increased by 7.6% in the same period, and foreign purchases made up 13.6% of the total Spanish housing market.

Return of Brits abroad

Brits were back at the front of the queue looking for property in sunny Spain, making up the largest amount of foreign investment (2,384 registered purchases), after which the French bought 1,242 homes and Germans snapped up 1,198.
[crb_image link=”https://www.buyassociation.co.uk/advice/property-investment-starter-course/” image=”https://cdn2.hubspot.net/hubfs/1717782/Asset_Store/WebCTA/cta.jpg” align=”left”]
Mark Stucklin of Spanish Property Insight said: “British demand is growing again in volume terms, though by value I suspect British investment is stagnant or even declining, as more buyers have been forced by a weaker pound to reduce their budgets.”

In October last year, Spain’s foreign minister Alfonso Dastis promised that British expats living in Spain would experience “no disruption” after Brexit, as well as assurances surrounding the European Health Insurance Card and pensions, which could have reassured many Brits and encouraged the increase in property purchases.

Marc Pritchard, sales and marketing director of Taylor Wimpey España, added: “Spain’s economy is the fastest growing in the Eurozone, bringing greater confidence back to the property market and thus attracting demand from North European countries.”

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

Granada Spain

Spanish property bounces back for first time since boom years

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.