UK buyers will have to shop around more for spanish property bargains
Calpe, Costa Blanca Photo: Lugaresparavisitar
The new year will herald a wave of resolutions around the world, as people try to Change their diet, resurrect their exercise routine or kick-start their saving. But one thing will remain unchanged: the flame is still burning among British buyers for Spanish property.
More than 34 million passengers flew from the UK to Spain in 2014, representing almost a quarter of all travel to EU countries, according to the Civil Aviation Authority. In 2015, that demand continued among house-hunters, with Spain regularly topping the chart of most searched-for destinations on TheMoveChannel.com.
Property sales totalled more than €24 billion during H1 2015, according to figures from the Ministry of Development, with transactions up by more than 10 per cent when compared with the same period in 2014.
The impact of buyers from overseas in popular tourist areas, such as the Costa Blanca, is not to be underestimated. According to the latest Alicante market report from Data.kyero.com, median property prices in the area increased by 19.07 per cent in the year to October 2015, with sales to international buyers accounting for 51.88 per cent of transactions (as of Q2 2015).
Chris White, Founding Director of Ideal Homes International, comments: "The British love for Spanish property is definitely still burning strong and locations such as the Costa Blanca are those that benefit the most. The attractions are clear - 320 days of sunshine per year, a huge range of beaches, golf courses and other attractions to choose from, a diet recognised by UNESCO and one of the top 10 healthcare services in the world according to figures from the World Health Organization. And that's just for starters. It's easy to see why so many Brits choose to own a second home in Spain, or even to make a new life there, when all this is just a short flight from the UK."
Indeed, 2015 was crowned the year of the British buyer by TheMoveChannel.com's research in December, as the weak euro meant that conditions were favourable for those seeking proeprty bargains. At the start of 2016, though, that is starting to Change: TINSA has flagged up the Mediterranean Coast as one of the main drivers behind recent price growth, with average prices there increasing 3.6 per cent in the year to October.
"UK buyers can get some real bargains in Spain at the moment, though rising prices mean that they may now have to shop around a little more than they did this time last year," adds White.