The property market in Spain has shown no signs of slowing down!
As reported by Spain’s office of national statistics, Registradores De Espana, Southern Spain saw around 43,844 registered housing purchases in the third quarter of 2017! UK buyers were also noted as accounting for more property purchases than any other foreign nationals. Here’s a breakdown of property transactions in the most popular provinces for holiday homes:
- Andalusia (Costa del Sol) – 22,497 purchases
- Murcia – 3621 purchases
- Valencia (Costa Blanca) – 17,696 purchases
A Place in the Sun has also reported on their headline figures for 2017, which listed the popularities of each country. No surprises here, Spain came out on top with a 55% increase in property searches compared to 2016 and an increase in enquiries!
More and more people love the idea of having a home away from home, with popular programs such as A Place in the Sun, A New Life in the Sun, and Sun, Sea and Selling Houses the idea of moving abroad or buying a second home is not unusual. With this increase in education and more agents offering trips to view property, keen buyers can now visit their ideal destinations and buy with ease.
In other news…
As Brexit negotiations continue, British nationals that are hoping to buy abroad can see some promising indicators. Alfonso Dastis, Spain’s Foreign Minister, has made progress on transferring pensions overseas and also declared that British expats currently living in Spain will see “no disruption” despite Brexit, read more about this here. In addition, once the UK formally leaves the EU, pensioners will be able to retain the use of their European Health Insurance (EHIC) benefits. Although this is great to hear, we recommend all our clients keep a close eye on any Brexit agreements in 2018 to see what other benefits will be in place for UK citizens living in Spain.
The above news and progress is great for those looking to buy in Spain! If you’re considering owning a property in Spain, please get in touch with our property experts today!
As a client of Spanish Legal Homes, we can introduce you to our recommended English speaking and qualified lawyers, financial advisers and Spanish property market experts, who can support throughout the process.