Brits still snapping up Spanish property

British buyers still lead the way when it comes to overseas nationals buying Spanish property, new figures show.

According to the latest data released by the country’s registrars, around 15,300 foreign buyers purchased a Spanish property during the third quarter of 2017. Of these, British purchasers accounted for around 14.8 per cent (or 2,300) of the properties bought by non-Spanish nationals.]

This means that around 25 Brits bought a property in Spain every day during the third quarter.

The French were the next largest source of Spanish property buyers (accounting for 8.5 per cent), followed by the Germans (7.8 per cent), Swedes (5.9 per cent), Belgians (5.7 per cent) and Italians and Romanians (both 5.6 per cent).

In total, sales to foreign buyers accounted for 15.3 per cent of all properties sold during this period. This means that, in spite of fears caused by Brexit, the proportion of homes sold to foreign buyers in the first nine months of this year is in-line with the number recorded during the first nine months of last year.

The data also revealed that property prices across Spain are continuing to rise. The average property price across Spain was 6.8 per cent higher at the end of September 2017, then it was at the same point last year. What’s more, the rate of price growth during the third quarter was faster than it had been in either of the previous two quarters.

Article published 22nd November 2017