ONE – IN – FIVE PROPERTY BUYERS IN SPAIN ARE BRITISH
Many leading estate agents already knew the statistics from the Colegio de Registradores – Spain’s land registry, that British buyers are way above the largest single group of foreign buyers when it comes to buying
property in Spain.
In the second half of 2015, 12.7% purchases of property across Spain were made by non-domestic buyers. Of that group, 19.8% were British, making them the largest group of non-Spanish property owners in the country. The registry shows that 16.7% of property belongs to UK citizens, which when you consider that the French are second with 10.3% and the Russians on 7.5% it is a massive amount.
According to Rightmove, a British property portal, Brits aged between 55 and 65 are more likely to enquire about buying in Spain, accounting for 43% of all homes searched. And despite younger ex-pats accounting for one-third who move overseas, those aged 45-54 are the next group of homebuyers, accounting for 31% of all enquiries. While Spanish property is more affordable than in previous years, and much cheaper than in the UK, buying in Spain still is more attractive to the older generation. And further data shows that 90% of higher end properties sold in Spain – those over 1 million Euros have been bought by foreign buyers, with Brits leading the way.