Brits buying in Spain again

BRITISH property buyers attracted by the warm, sunny climate and bargain deals are returning in numbers to purchase Spanish properties.

In 2014, Spain witnessed a 19.3 per cent increase in the number of residential properties sold to foreign buyers – accounting for almost one out of every five houses sold – and British interest in the Spanish market is once again on the rise.

Thanks to a favourable exchange rate and familiarity with the country, Brits purchased 5,014 homes in Spain in 2014, 1,053 more than they bought the previous year.

According to the National Statistics Institute in Spain (INE), home sales rose by 2.2 per cent in 2014, indicating that 2015 could be another good year for the once-beleaguered Spanish property sector following the crash in 2008.

Domestic demand is also on the up thanks in part to easier access to financing from the banks for Spanish buyers.