Spain and the Costa del Sol remains top of the list for British buyers
Spain continues to be the top destination for British buyers wanting to buy a second home, taking the lion’s share of enquiries made by those wishing to set up abroad.The latest figures from the Overseas Guide Company show Britons wanting to buy abroad are very much favouring Europe, with Eurozone countries making up 79% of all enquiries.
Queries about sunny Spain take up 24% in the third quarter of 2012, a figure which rose from 16% in the first quarter.
The Overseas Guide Company puts this sharp increase down to a combination of low property prices and a favourable exchange rate.
“The euro was at a four-year low against sterling by the end of July this year,” said editor Richard Way.
“Combine that with the knock-down prices, which families would have seen first-hand during their summer holidays, and you can see where the interest has come from.”
Indeed, those who visited the sunny spots of Benahavis, Sotogrande, Marbella, Estepona, Gaucin and Casares this summer will – as always – have been blown away by the blue skies, warm seas and chilled-out lifestyle Spain has to offer.
The difference right now is that, on glancing in estate agents’ windows on the way back from the beach, many will have realised that the current ‘bargain basement’ property prices make buying in Spain a pretty much irresistible option for anyone thinking about purchasing a second home.
With today’s prices hovering around what they were almost a decade ago in 2003, it really is a no-brainer.
And indeed, those who are already living the high life in sunny Costa del Sol destinations – for a fraction of the price you might expect – would be the first to recommend buying in southern Spain.
As the travel agents in Spain themselves report, sales have increased by over 50% this year, proving that Spain really is the obvious place to invest in foreign property, right now.
Go on, check out the prices. You really will be surprised.
Eloise Horsfield | December, 2012