More Britons are taking advantage of low property prices in Spain than ever before, with the number of Brits buying in Spain increasing by 25% in the past 12 months

There has been an uptake in Spanish property related transfers thanks to the strength of the pound and the low price of property in Spain, resulting in the highest rate for three years. As the currency exchange deals get better, more and more Britons are looking to purchase a property in Spain.

The price of property in Spain is rising at a rate that has not been seen for three years as the slow housing market and strong pound are advantageous to those Brits who are looking to buy. Foreign purchases of real estate are up by 25% over the past 12 months, which is the fastest increase the market has seen for three years and when compared to the 2011 figures, sales have increased by 56%.

A number of different areas of the market are growing and those transactions that involved properties worth over £250,000 increased by 21% year on year and properties worth more than £100,000 had increased by 25%. The average value of each sale has decreased by 6% year on year and 9% since 2011, despite an increase in the number of purchases.

It is certainly the right time for buyers to purchase and this is proven by the fact that fewer British property owners in Spain are reluctant to give up their assets, with the number of Brits who are looking to leave Spain and move back to the UK dropping by 14% in 2014 when compared to 2013.

Buyer confidence has improved and this is down to the pound becoming stronger against the Euro, making Spanish property more affordable. This trend is likely to continue for the immediate future, forcing prices down even lower.

Those who are looking to purchase may decide to take up the option of making purchases in stages to help take advantage of a possible stronger pound, they may even chose to take out a limit order where they only purchase currency once the rate of exchange reaches the desired level.

Buyers must be aware of how change in currency values can affect big purchases made internationally and even more so if the purchase is made as an investment. Regardless of the upward trend, there have been the occasional lulls in that period and if they fall in line with a purchase then that’s a positive – but if it happens when it comes to selling, then it could be very costly.

Those buyers who are looking to invest their pension should take care and consideration. However, changes to the UK pension rules will have an impact on the property market. Older clients will be looking to move away to enjoy the weather and to enjoy more of what life has to offer. It costs less to live in Spain than it does in the UK, which means that their money can go that little bit further which is important when it comes to pensions.

The current exchange rate is advantageous to UK buyers so money can stretch further and there are a large number of desirable and suitable properties available. The price of property has changed in order to match up with demand and a number of developments that were completed but not sold are now available at excellent prices.

However, British buyers are no longer dominating the Spanish property market, which has seen an influx of investors form the likes of Russia, China and Scandinavia so the pendulum is beginning to swing in the direction of other nations, with other overseas investors flocking to Spain to take advantage of property bargains.

Author Bio
Pure Property Overseas are Spanish property experts with a range of properties for sale in Almeria, Malaga, Alicante and Murica.

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