The upturn continues here in Spain as an excellent first quarter continues for property sales. In fact, the International Monetary Fund has commented that Spain has made a remarkable economic rebound with overseas buyers returning. Their visit in December 2016 to compile their annual report helped them to forecast GDP growth of 3.2% last year and 2.3% in 2017.
Figures from the Office of National Statistics dated January 2017 stated there were more than 308,805 British people resident here in Spain which gives the country the highest number of British expats in the EU. The data shows over 100,000 of those are over the age of 65. And we can see why with over 300 days of sunshine, fabulous value property at whatever level you choose, and a great outdoors lifestyle that is perfect for health and wellbeing.
With some of our off-plan developments, sales outstrip construction rate with some being sold within a few hours of release. Here at Bromley Estates we are experts in off-plan property and can assist you through every stage of the process.
A recent report in The Olive Press newspaper stated that Richard Spiegel of property portal Kyero said British interest was still strong despite the triggering of Article 50 towards the end of March. He said “With Prime Minister May emphasising how slow the Brexit process is going to be, with the UK being hostage to the negotiation cycle, it seems that’s Brits are happy to take a ‘keep calm and carry on’ approach to buying homes in Spain. Interest has slowed but it is far from going into reverse – in fact British visitors to the site have increased by 30.2% over the past year.”
So, if you are interested in buying a property in Spain as your main or second home contact one of our muti-lingual team today.