Fall In number of Brits buying property in Spain

New figures show that there has been a slight decline in the number of Brits buying property in Spain prior to Brexit.

The latest data released by the Spanish Registrar’s Association (SRA) shows that while Brits were responsible for 21 per cent of all property purchases made in 2015, last year this percentage had shrunk to 19 per cent.

Factors blamed for the fall in British buyers include Brexit and the doubts over their rights following the UK leaving the European Union.

In total, the SRA figures show that 13.25 per cent of all houses sold in Spain last year were bought by foreign buyers.

The SRA data is in line with separate figures released by bank BNP Paribas recently.

The BNP Paribas data found that 17 per cent of all home purchases in Spain were made by foreign buyers last year – and that, of those, one in five was from Britain.

Spain is currently home to the most British expats in the EU and is the only country where that is higher than the reciprocal figure. Officially, 256,000 Brits live in Spain (although some estimates put this figure around three times higher – not all Brits register as residents), while only around 130,000 Spaniards live in the UK.

Article published 18th May 2017