Spain reigns supreme for Britons buying abroad

Spain reigns supreme for Britons buying abroad

Spain soars ahead with 46% of overseas mortgage enquiries in 2015.

Spain remains the top choice for Britons buying property abroad, according to Conti, the overseas mortgage specialist. The country accounted for just under half (46 per cent) of enquiries received by the company during 2015, despite France stealing a march on its lead during the second half of the year.

Spain’s property market crumbled at the height of the financial crisis, sending property prices spiralling. But after years of the market being depressed, it’s starting to pick up, with Knight Frank reporting a rise of 1.2 per cent in Spanish property prices from the third quarter of 2014 to the third quarter of 2015. And this is leading to renewed optimism among potential buyers.

The gap is narrowing, however, with France showing a strong performance in the fourth quarter of the year, when it accounted for 44 per cent of enquires compared with Spain’s 42 per cent. Over the course of 2015, however, it took a 34 per cent share, so is still playing second fiddle to its biggest rival over the longer term. A sluggish market, the growing value of the pound against the euro and the lowest mortgage rates in more than 60 years are making it affordable than ever to snap up a property across the Channel. And buyers are taking full advantage.

Maintaining third place in the hot spots list is Portugal, achieving a 15 per cent share of enquiries during 2015, up from 11 per cent in 2014. Property prices are on the up again at last, but are still generally below pre-recession levels, so investors, feeling more confident about the future and buoyed by the growing strength of sterling, are coming back to the market.


Clare Nessling, director at Conti, says: “It’s great to see the old favourites topping the list of overseas property hotspots. It wasn’t so long ago that the Spanish market was shrouded in doom and gloom, but the market has turned the corner at last and excellent buying conditions are luring investors back. We’re also seeing buyer’s markets in France and Portugal, and there’s been a general lift in confidence among buyers who are returning to these traditional markets in their droves.   

“Bargain prices and historically low mortgage rates are making it more affordable than ever to snap up a property in all three countries, but the biggest boost to buyers’ budgets has been the growing strength of the pound, providing them with more buying power and more pounds in the pot. Long may it continue.”

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Spencer Fortag
Spencer Fortag 25 Aug 2016

The funny thing is, I mentioned the brick issue in my blog back in April: http://medwayproperty.blogspot.co.uk/2016/04/the-medway-property-market-and-lack-of.html

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SecomTech
SecomTech 19 Aug 2016

Firstly, I either lodge with DPS or do not take a deposit...secondly, If a tenant has not received a confirmation their deposit is secured with either a scheme or in an insured account with an agent/landlord,...

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jasonevans
jasonevans 19 Aug 2016

Belvoir has over 15 years of experience in property lettings, buying and renting and is one of the best agencies I know about. I have heard that they revived an award for the hard work. Really amazing...

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jasonevans
jasonevans 19 Aug 2016

Usually these areas are least affected when it comes to unexpected economical collapse.

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TheWaspNestRemover
TheWaspNestRemover 11 Aug 2016

You agree to pay for the treatment needed to get rid of fleas, ants, mice, wasps nests and other pests unless you can prove that these are a result of us not meeting our repairing responsibilities or these...

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madisonwelch80
madisonwelch80 02 Aug 2016

16% is quite a raise. Let's hope this tendency won't continue for long.

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madisonwelch80
madisonwelch80 02 Aug 2016

?66,963 is a serious price drop However buying a property it a serious investment only small percentage of the UK population could afford.

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madisonwelch80
madisonwelch80 02 Aug 2016

Wow, it kind of surprised me. I mean counting on mom and dad's bank even after retirement is too much. That's the moment in life when one should have ensured themselves. I am shocked.

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AbbieP.
AbbieP. 22 Jul 2016

"While house prices in the most expensive eleven boroughs have declined values in the cheapest eleven boroughs continue to rise" - not a nice way to even out the price range. London is overrated as it

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AbbieP.
AbbieP. 21 Jul 2016

And try to profit from your decisions, I may add

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CommercialTrust
CommercialTrust 19 Jul 2016

Retirement investment has always been one of the biggest draws of buy to let. And the buy-to-let demographic is, on balance, older. (Over a third of our applicants are over 50 at the time of application.) It...

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Forrest Wheatey
Forrest Wheatey 11 Jul 2016

I find the time perfect for ever home-owner wannabe. Prices should slowly, but steadily drop, at least for the inner buyer. Making it harder for outsiders to buy properties (the whole Brexit thing means...

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