Overseas

Demand for Spanish and Portuguese property at an all time high

Property Reporter
|
26th November 2021
Mijas Spain 722

New data released by overseas property portal, Kyero.com, reveals that there has been record interest in Portuguese and Spanish property during 2021, with enquiries for properties up 16% and 26% in Spain and Portugal respectively during Q3 when compared to the same time last year.

Kyero says that it has seen the highest ever volume of traffic to properties in both Spain and Portugal in the first three quarters of this year (Jan-Sept) compared to the same period in any year since it was founded in 2003.

Proving that this is not solely a result of pent-up demand since lockdown last year, the data also shows a 10% increase in enquiries for properties in Spain compared to the same period in 2019 and a 55% increase in enquiries for properties in Portugal.

Louise Dell, founder of Kyero says: “Hot spots in the Med like Spain and Portugal continue to draw a huge and growing level of interest from Brits. Amidst the British winter of discontent - energy bill increases, petrol shortages, unpredictable weather and ongoing Brexit issues - more and more people are setting about making their dreams of moving to Europe a reality.”

Additional data from a survey of over 2,000 people considering moving to Europe shows that 75% of people are interested in moving to Europe for better weather, while 16% of potential buyers are looking for a cheaper cost of living from their move abroad.

Louise adds: “Brexit has been a major driver for many Brits buying property in Europe over the last few years, and while it has had some implications on residency, a significant proportion of European house hunters are buying holiday homes, so demand has not been negatively impacted.”

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