This is the second consecutive year that the two countries have occupied these positions.
Meanwhile, Italy was found to have increased in popularity over the last year, as it climbed into the top five.
Commenting on the results, A Place in the Sun editor Richard Way said it highlighted the continuing appeal of traditional destinations.
He stated: "When looking for a second home or a new life in the sun it seems that Spain's mix of great weather, rich culture and beautiful coastline is keeping the country at the number one spot."
According to the National Association of Estate Agents, the diverse taste of British investors is one of the reasons for the continuing high level of interest in foreign property investment.
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