- Posted by Girasol Bespoke
- On April 11, 2016
The property market is enjoying a strong start to 2016 with 25% more enquiries from overseas buyers than this time last year.
International buyers made more than 100,000 enquiries in the first three months of the year, according to figures by Spanish property portal Kyero.
Demand has been particularly strong in the Canary Islands while the Alicante region continues to be crowned the favourite spot for property buyers, generating more than 33,000 enquiries.
All the coastal regions of mainland Spain have reported increased interest with sales enquiries up 50.7% in Tenerife, 49.3% in Lanzarote, 38.1% in Tarragona, 35.8% in Mallorca and 34.6% in Alicante.
Most overseas interest is from British investors by far, with more than 62,000 property queries from January to March – a 30% rise on the same time last year.
More Germans, Dutch, Italians and Swedish are also looking to invest in Spain while interest from France has fallen by about 9%.
It seems the upcoming EU referendum has failed to dampen British interest in Spain, despite uncertainty of what will happen to expats or second home owners if a Brexit is on the cards.
Property sales also rose last year with government figures for 2015 revealing more than 400,000 house sales for the year, up 10% of the previous year.
Again, international buyers played a significant part in the surge by generating more than 71,000 sales.
Spain is also showing other signs of economic recovery with a slight increase in domestic mortgage approvals and a drop in unemployment sparking a steady return in demand from Spanish buyers too.