Renewed interest in Spanish property from British buyers
By Steve Binge

Renewed interest in Spanish property from British buyers

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There has been a surge in the level of interest in Spanish properties from British buyers, with both enquiries and sales among this demographic increasing.

So says Marc Pritchard, sales and marketing manager at Taylor Wimpey de Espana, who revealed that in August, 53 per cent of all his firm's transactions were completed by Brits, which is the highest proportion it has been in nearly two years.

He explained there are several factors that have combined to make Spanish real estate an attractive option for British investors.

Mr Pritchard noted there is a good supply of high-quality homes in popular locations that are available at reduced prices. In addition, the exchange rate between sterling and the euro and the low rate of value-added tax payable on property transactions have added as extra incentives to enter the Spanish residential sector.

He stated that "Brits are prepared to act in order to take advantage of the current market".

Despite this renewed interest among buyers from the UK, data published earlier this week by the Instituto Nacional de Estadistica showed that property sales declined by 2.5 per cent in July, compared to a year earlier.
 
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