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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Tony Gimple
Tony Gimple 09 Dec 2017

Linking professionalism to limited company borrowing is a flawed concept. Despite S24 etc., limited companies are the most tax inefficient way of running a property business and leave borrowers seriously...

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Evelyn Attwood
Evelyn Attwood 01 Dec 2017

It's normal. If you plan to buy a house in one of the most beautiful spots in the country you should pay a high price.

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Evelyn Attwood
Evelyn Attwood 01 Dec 2017

I think that the situation will be the same at December.

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Scott Garnet
Scott Garnet 06 Nov 2017

If you have a patio or a porch it is important to make sure that any connecting doors are secured. Good advice for sliding glass doors is replacing the panels with storm resistant glass and getting heavier...

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richardrawlings
richardrawlings 01 Nov 2017

What has not been mentioned here is the effect of not only higher interest payments, but also that these payments are less likely to be offsettable as a business cost due to the scaling back of mortgage...

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Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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