79% of Britons look to purchase Eurozone property

Warren Lewis
6th November 2012

Spain dominating the charts according to recently released data

According to the recently published Quarterly Index report from The Overseas Guide Company, 79% of British citizens were looking to purchase property in the Eurozone during Q3 2012, with Spain continuing to dominate the leader board.
The Overseas Guide Company attributes the surge in enquiries from Britons to a combination of low property prices and a favourable exchange rate.  
Editor of The Overseas Guides Company, Richard Way remarked: "Let's not forget, the euro was at a four-year low against Sterling by the end of July this year - no doubt a contributing factor to the especially busy August.  
"Combine that with the knock-down prices, which families would have seen first-hand during their summer holiday in many destinations, and you can see where the interest has come from. The results of our Q3 Quarterly Index support the finding from our recent survey that more than 79% of Brits have not been deterred from buying in their chosen overseas destination by the current economic crisis."
When it comes to the most popular Eurozone destination for British enquiries, Spain remains a leader, having grown in attractiveness throughout 2012 from just 16% in Q1 to 22% in Q2. Q3 2012 ended with Spain taking 24% of total enquiries - sharing the top spot with France.
Marc Pritchard, Sales and Marketing Manager at leading Spanish house builder Taylor Wimpey España comments,  
"It's great to see that Brits have not been deterred - it's obvious that the nation is still considered one of the best places to buy a second home. At Taylor Wimpey España we've actually seen our sales increase this year with a 52% increase in sales on the Costa del Sol and an impressive 76% increase on the Costa Blanca until September 2012 compared to the same period last year."
One of the most famous coastlines in Spain, the Costa Blanca attracts millions of visitors each year and is traditionally a favourite destination for foreign buyers drawn to the clear blue waters, miles of golden sandy beaches, quaint villages, sophisticated cafes and restaurants and an abundance of historical, cultural and leisure activities.  
According to data from Kyero.com, Spain's largest English language property portal, Alicante is a firm favourite for second home buyers, hardly surprising given that Kyero's Spanish House Price Index for October 2012 shows that Alicante property is priced significantly below the national average of €244,000 at a bargain price of just €206,000.

Related articles
More from Overseas
Latest from Financial Reporter
Latest from Commercial Reporter