- Home » Expat News » Spanish property still selling like hot cakes
Spanish property still selling like hot cakes
| Published: | 22 Nov at 6 PM |
Want to get involved?
Become a Featured Expat and take our interview.
Become a Local Expert and contribute articles.
Get in touch today!
Become a Local Expert and contribute articles.
Get in touch today!
As an ever-increasing number of expats arrive in Spain, foreign property purchase is soaring to an all-time high in popular destinations.
Last year, over 61,000 homes were purchased by expats, mostly in coastal provinces and Spain’s ever-popular offshore islands. According to the country’s Spanish Registry, data shows just over 13 per cent of all property sales were to expatriates from the UK, Germany and France, and the increase has continued into 2018 as UK citizens fear the prospect of Brexit's effect on Britain’s economy and cost of living.
Spain’s economy has always relied heavily on tourism and property purchase by foreigners, whether for second homes or as part of upcoming permanent retirement plans. Britons make up the bulk of purchasers, with demand growing even more as Brexit approaches with no solution in sight. Demand is now even stronger in coastal areas, with beaches and sunshine the motivation along with Spain’s still reasonable cost of living, and the country is now number one in the Top Best Places in 2018 to buy property.
For those unable to decide where in Spain to put down roots, Barcelona, although not a bargain-basement location by any means, is a favourite with many Britons who love city life, history, culture and an endless choice of eateries and entertainment. The Costa Blanca draws beach lovers and sun worshippers, with real estate still very affordable, and the Canary Islands are another favourite for Brits looking to escape the UK. Sadly, the ever-popular Costa del Sol seems now to be a hub for gang warfare, murders, bombings and assassinations in full view of horrified tourists and expat retirees.
Last year, over 61,000 homes were purchased by expats, mostly in coastal provinces and Spain’s ever-popular offshore islands. According to the country’s Spanish Registry, data shows just over 13 per cent of all property sales were to expatriates from the UK, Germany and France, and the increase has continued into 2018 as UK citizens fear the prospect of Brexit's effect on Britain’s economy and cost of living.
Spain’s economy has always relied heavily on tourism and property purchase by foreigners, whether for second homes or as part of upcoming permanent retirement plans. Britons make up the bulk of purchasers, with demand growing even more as Brexit approaches with no solution in sight. Demand is now even stronger in coastal areas, with beaches and sunshine the motivation along with Spain’s still reasonable cost of living, and the country is now number one in the Top Best Places in 2018 to buy property.
For those unable to decide where in Spain to put down roots, Barcelona, although not a bargain-basement location by any means, is a favourite with many Britons who love city life, history, culture and an endless choice of eateries and entertainment. The Costa Blanca draws beach lovers and sun worshippers, with real estate still very affordable, and the Canary Islands are another favourite for Brits looking to escape the UK. Sadly, the ever-popular Costa del Sol seems now to be a hub for gang warfare, murders, bombings and assassinations in full view of horrified tourists and expat retirees.
Comments » No published comments just yet for this article...
Feel free to have your say on this item. Go on... be the first!
