Spain remains top choice for overseas investment

Spain remains top choice for overseas investment

According overseas mortgage specialist, Conti, the list of overseas property hot spots is dominated once again by Spain.

The sovereign state accounted for 40% of enquiries received by the company over the third quarter of 2015, and almost half (46 per%) of those received over January to September this year.

Hot on its heels, however, is France which appears to be making a comeback, taking a 38% share of enquiries over the third quarter and 32% over the course of the year so far. It actually came out top during August and September with 46% of enquiries compared with Spain’s 31%, so the next few months should prove to be an interesting time for these old favourites battling it out for prime position.  

Clare Nessling, director at Conti, says: “There’s no doubt that Spain’s appeal was tarnished following the property crash which saw prices in some of the most desirable areas fall by up to 50%. But, following a nightmarish few years, the property market is on the up at last and British investors are regaining confidence in real estate and rediscovering their love for the sights and sounds of this beautiful country.

Although the French property market has remained a lot more steady than Spain’s, many investors have been holding off on their purchasing plans to see what happens with property prices in France, which are now expected to stabilise and then begin a slow increase, which is good news for anyone thinking of entering the market now.”


In third position is Portugal, where more upbeat economic news and attractive property prices have provided a boost to investors’ confidence and this is leading to an increasing number of buyers coming back to the market in search of opportunistic bargains. Over the third quarter it accounted for almost a fifth (19%) of enquiries, and 16% over January to September.

According to Conti, it’s an ideal time to be buying in all three locations, with the strong pound shedding tens of thousands of pounds off property prices across the board. A €200,000 property, for example, is now almost £14,000 cheaper than it was this time last year, and around £20,000 cheaper than 18 months ago, showing just how much difference the currency markets can make.  

Caveat emptor

It may be a great time to buy property in parts of Europe, but as always, it’s imperative to do things right. Bitter experience has taught many investors that scrimping on independent legal advice can effectively cost them their holiday home. You should always go through the same process that you would follow if you were buying a property in the UK. This means taking independent advice from an English-speaking lawyer who is not connected to your seller, estate agent or property developer.

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Latest Comments

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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