£/€ exchange rates are not putting off British buyers

In the second half of last year the British were the number one or two group of second home (non-resident) buyers in nine out of Spain’s autonomous regions. 

Even though we have seen less positive exchange rates and a weak pound during the last year the demand for homes in Spain is still high. Investment in property here still looks a very attractive option post referendum and living here it is easy to see why politics doesn’t influence people’s desire for a better life.

There is a fabulous outdoors lifestyle that promotes healthy living, whilst the climate means spending more time walking, cycling or playing golf is easy. The infrastructure of this part of Spain is geared up for year-round enjoyment with fabulous restaurants and nightlife not just seasonal.

After the crash of 2007-2009, British demand began growing again consistently in the first half of 2013, rising from 3,662 in that period to a high of 8,800 in the second half of 2015 (+40%).

Sales growth went slowly in the first half of 2016 (the June referendum took place at the very end of that period), and then plunged 20% between the first and second half of 2016. But in 2017 sales started to recover, and by the second half of 2017 sales were back up by 7.8% compared to the same period the year before.

So, where sales declined and some buyers temporarily lost faith in buying here in Spain, the recovery has been remarkable in that the country has tightened some of its legislation making buying off-plan safer. This is one of the areas we see growth as with building work commencing by reputable developers the range of off-plan property available makes everything from exclusive villas, penthouse apartments and smaller 1 and 2 bed apartments an attractive choice for buying here in Spain.