Demand for Spanish property soars to all-time high, accoding to UK portal

According to UK property portal TheMoveChannel.com´s Top of the Props, demand for Spanish property soared to an all-time high in September.  Enquiries for Spanish real estate accounted for more than 20% of the enquiries made on overseas properties in the portal last month.  This beats any previous statistic, since these records began.

The “British and Spanish love story” is nothing new and according to the TheMoveChannel.com, Spain has been the number one property destination on this property portal for a very long time and the current economic crisis hasn’t affected the British love affair with the costas.



Only once, towards the end of last year and for a very short period, America´s low-priced property market generated more enquiries than the Spanish, however, as the real estate adjustment in Spain brings in more bargains, the number of enquiries has reached a record high of 20.78%, an increase of 5.01% in just one year.

Spain wasn’t the only country to see an increase of Enquiries last month, Portugal also saw the interest grow by 2.77%, reaching almost one every 10 enquiries.  This has made of Portugal the 3rd most popular overseas destination on the portal, and for the first time it has become more popular than France.

Another European country that has ranked in the top 10 most popular destinations to buy property abroad is Bulgaria, which is located on the 9th position of the chart. Even though we have seen amazing destinations like Brazil, Greece, Turkey on the Top 10, Spain's soaring popularity stole last month´s show.

When asked about the real estate market situation in Spain, Simon Peck of Best Overseas Property comments: "Uncertainty in the euro may still be high, but the economic climate has actually made Spanish property more affordable than ever. Prices are now as low as 60 per cent off the market peak; banks are allowing 100% finance on some developments and with the single currency weakening, exchange rates can save investors several thousand pounds on their transaction. Official figures have already seen overseas property investment this year reach the highest level since four years ago! The bottom line is this: if a property is of good enough quality and in a desirable location, buyers are no longer waiting to make a purchase."

• By Surestates
• Marbella and Costa del Sol Property News.
• 30 Nov -0001