British love affair with Spanish property continues
According to the recently published Quarterly Index report from The Overseas Guide Company, 79% of British citizens were looking to purchase property in the Eurozone during Q3 2012, with Spain leading the trend.
Richard Way, editor of The Overseas Guides Company, said: “Let’s not forget, the euro was at a four-year low against Sterling by the end of July this year – no doubt a contributing factor to the especially busy August.
“Combine that with the knock-down prices, which families would have seen first-hand during their summer holiday in many destinations, and you can see where the interest has come from.
“The results of our Q3 Quarterly Index support the finding from our recent survey that more than 79% of Brits have not been deterred from buying in their chosen overseas destination by the current economic crisis.”
Spain remains a leader, having grown in attractiveness throughout 2012 from just 16% in Q1 to 22% in Q2.
Q3 2012 ended with Spain taking 24% of total enquiries – sharing the top spot with France.
Marc Pritchard, sales and marketing manager at leading Spanish house builder Taylor Wimpey España said: “It’s great to see that Brits have not been deterred – it’s obvious that the nation is still considered one of the best places to buy a second home.
At Taylor Wimpey España we’ve actually seen our sales increase this year with a 52% increase in sales on the Costa del Sol and an impressive 76% increase on the Costa Blanca until September 2012 compared to the same period last year.”
One of the most famous coastlines in Spain, the Costa Blanca attracts millions of visitors each year and is traditionally a favourite destination for foreign buyers.
According to data from Kyero.com, Spain’s largest English language property portal, Alicante is a firm favourite for second home buyers.
Kyero’s Spanish House Price Index for October 2012 shows that Alicante property is priced significantly below the national average of €244,000 at €206,000.