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UK overseas property buyers ‘flooding back’ into market

Posted by: In: Real Estate 23 Apr 2014 Comments: 0 Tags: ,

Foreign mortgage specialist Conti says more British buyers are being lured back, with almost six out of ten looking for property in Spain – as town hall figures show 90,000 Britons left Spain last year

UK foreign property buyers are flooding back into the market, and are particularly interested in Spain, just as official figures show 90,000 Britons left Spain last year.

During 2013, the number of Britons living in Spain fell 23% from 297,229 to 385,179, according to the country’s National Statistics Institute.

The number of Germans in Spain fell by 23.6% to 138,917 and the French by 12.7% to around 100,000. The only nationality to increase its presence in Spain was the Chinese, according to the Spanish town hall figures.

Britons are still the second largest European Union nation in Spain, behind the Romanians. The British embassy in Madrid estimates up to 800,000 Britons live in Spain for least part of the year.

Even so, UK-based overseas mortgage specialist, Conti has seen inquiries rise 90% year-on-year, with most looking to buy property in Spain.

Historically low interest rates, bargain property prices and a strong pound is luring British investors back to the overseas property market, says Conti, which saw the huge annual increase from …read more

Source: OPP



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