Demand for Spanish property hits 10-month high

Demand for Spanish property hits 10-month high

According to TheMoveChannel.com, demand for Spanish property has reached a 10-month high.

The country raced to the top of the property portal's charts in June 2016, becoming the most popular country among overseas property buyers for the first time since September 2015.

Spanish property accounted for one in eight (12.27%) of all enquiries on the site in June 2016, overtaking US property for the first time this year. America, which has regularly been the most sought-after destination on TheMoveChannel.com in the last year, accounted for 8.14% of June's enquiries, falling to third place in the Top of the Props chart – behind the UAE, which climbed into second place with 1 in 10 (10.12%) of all enquiries.

Investors continue to look favourably upon alternative and emerging markets, with Turkey rising two places into seventh with 2.5 per cent of enquiries. India (1.17%) rose one place into 12th, while Canada held on to its eight position with 2.43% of the month's activity. Slovenia also emerged as a summer hotspot, entering June's Top 10 with 1.28% of enquiries.

America's property appeal has not ended, though: on a quarterly basis, the USA was the most popular destination of Q2 2016 on TheMoveChannel.com, ahead of runner-up Spain.


On a quarter-on-quarter on basis, TheMoveChannel.com's Top of the Props report also highlights buyers' enduring interest in European property: Italy, Portugal and France completed the Top Five destinations across the three months to June 2016. Italy and Spain saw their enquiries rise 14% and 17% respectively, compared to the first quarter of the year.

In June, Portugal and France also completed the month's Top Five, with Portugal climbing two places to reach fourth place and France sliding into fifth, above The Philippines and Turkey.

Dan Johnson, Director of TheMoveChannel.com, had this to say: “The rise in Spain's popularity arrives in the same month as the UK voted to leave the European Union. It is too early to see the impact of that decision, but with UK buyers accounting for a significant portion of TheMoveChannel.com users, June's Top of the Props report proves that Brits are far from out of love with Europe. Enquiries for Cypriot real estate rose 20% in Q2 2016, while June saw Irish property enter the Top 10 for the first time, which may be a result of Remain voters looking to move abroad to a place in the EU.

Spain, however, is not just a European lifestyle favourite, but a sought-after opportunity for investors. The country's economy has been steadily growing each quarter since Q3 2015, with property prices also having bottomed out in key areas. Even with the pound weakening in the wake of the Brexit vote, the euro has weakened too, meaning that property remains good value for buyers in the UK and elsewhere, boosted by mortgage rates at their current lows.

In fact, Spain's share of activity in June 2016 was its highest since July 2013, when it accounted for 30% of activity on TheMoveChannel.com. Demand is below that peak, but is higher than 2015's best months, when Spain recorded 11.99% and 11.25% of enquiries respectively. The country remains attractive for EU and non-EU buyers alike.”

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Samantha Goodman
Samantha Goodman 11 Aug 2017

Interesting point of view.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

It depends on the people, some older adults decide to make a long-distance move in order to live closer to their children or settle in a place with a lower cost of living.

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brandonlee10
brandonlee10 24 Jul 2017

The financial ramifications of the triggering of Article 50, the starting gun for Britain's departure from the EU, are far from clear. Buyers will be most cautious in London, given that buying a home in...

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IrisJ.
IrisJ. 19 Jul 2017

Great advice, but may I also add that when buying an already built home, make sure you do all of the proper inspections. Most importantly pest inspection because people tend to get surprised when they

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IrisJ.
IrisJ. 17 Jul 2017

The third point is, in my opinion, the most important one. People have become too inconsiderate and careless when it comes to rented properties. If a landlord wants to protect their property, regular visits...

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cornishalan
cornishalan 10 Jul 2017

Added to the cost of purchasing these village properties are the above average maintenance costs. Particularly where the property is a listed building or requires specialist building skills such as thatching...

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Jo Mullett
Jo Mullett 07 Jul 2017

Here in Swansea, known as the Japanese knotweed capital of the UK, it never fails to amazes me that people have no idea of the potential problems this invasive non-native plant can cause when buying or...

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NathanG
NathanG 05 Jul 2017

McDonalds, for example, have been purchasing their real estate on prime locations for years. If something happens to the company they'll have invaluable assets that will be able to save them. We might

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Jonah
Jonah 04 Jul 2017

Graham: surprised to see you cite the "extra tax liability" as capping out at ?560. It doesn't - the extra tax is exponential, as it is levied on the income (i.e the inflating level of rental income you...

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Dianne Griffen
Dianne Griffen 29 Jun 2017

Be very wary of anyone bringing you deals that they have ?found? and want to ?sell on to you? or ?joint venture? with you on ? you need a proper legal contract for this, involve a RICs surveyor to confirm...

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jason hadzikostas
jason hadzikostas 28 Jun 2017

The most important thing is a budget. Students have to manage their spendings in food, house maintenance, books and many other things. According to me, student Studios are the perfect option for them as...

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SecomTech
SecomTech 22 Jun 2017

AT Last...This was discussed years ago and there was a move towards landlords registering their bad tenants on a database..(can't remember where) It seems a logical step though our leaders will probably...

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