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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ChristinaReedUK
ChristinaReedUK 20 Jun 2016

I don't understand why it's always a war between the two sides. Either, way the landlord is probably keeping a detailed inventory and will see the changes you've made. I just don't understand why there...

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NathanGreen
NathanGreen 16 Jun 2016

Seeing that the tenants are quite satisfied with their landlords and the properties is indeed great. I wonder, though, what is the situation in London alone? The tenants face sky-high rent levels in the...

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AndiMur
AndiMur 15 Jun 2016

TheGuardian published the same forecast. But on the other hand, professional brokers express different opinions. According totranio.com, an exit from the EU would not affect the demand/supply imbalance...

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Gary Holmes
Gary Holmes 14 Jun 2016

Having a professionally completed inventory at check-in and check-out is clearly (to me at least) of minor value. Tenants make un-authorised modifications and/or walk off with items that belong to the

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Violet Gibson
Violet Gibson 14 Jun 2016

Cautious people think buying off-plan is reckless, but over the past few years investors have literally made fortunes.Pre-release prices have obvious benefits for the developer, who gets instant finance...

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Kate Windleton
Kate Windleton 14 Jun 2016

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NathanGreen
NathanGreen 14 Jun 2016

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ChristinaReedUK
ChristinaReedUK 13 Jun 2016

What does "detecting a bad vibe" mean actually. I've had certain vibes like these and yet have always found a reason , if there's any, why I don't like a certain property. The property maintenance might...

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keybanks estates
keybanks estates 08 Jun 2016

Great News for first time buyers, about time two!

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NathanGreen
NathanGreen 07 Jun 2016

I agree with #6 - you should maintain your garden according to the target buyer. One thing is universal, though - cleanliness and order. Having the yard clutter-free and clean will help people who do enjoy...

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NathanGreen
NathanGreen 06 Jun 2016

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Paul 25 May 2016

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