Brits 'continue to lead the way with Spanish property'

British buyers are still the largest foreign group to purchase property in Spain, it has been noted, although one expert pointed out that other nationalities are increasingly looking at real estate in the country.

Managing director of Spanish Property Insight Mark Stucklin explained that "with the process of international diversification, sales should slowly start to increase".

He made the comments to Taylor Wimpey de Espana, which highlighted research by the College of Registrars in Spain that showed Brits accounted for one in four real estate transactions to foreign buyers in 2010.

Sales and marketing director of the house builder Ignacio Osle revealed that Mallorca remains a hotspot for property investment among UK nationals.

The General Spanish Real Estate Market Index, which was published earlier this month, painted a more positive picture for properties on the Balearic Islands.

According to the data, this archipelago, along with the Canary Islands, only saw house prices fall by 2.5 per cent last month, significantly better than the national average of a 6.4 per cent drop.
 

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