The popularity for Spanish property reached new levels towards the end of 2017 with an increase in the demand for both new and resale homes, especially in areas like Estepona and Marbella. What was also surprising was that we also saw a rise in British buyers, despite the BREXIT situation.
If we look at the actual figures produced by the Association of Land Registry in Spain for the last three months of 2017 in terms of foreign buyers of property, it was at the highest level for a final quarter of a year since the days of the property boom, with some 15,266 purchases.
It was not just limited to overseas purchasers though as Spanish buyers were up by 19.7%, but the most exciting figure was the increase in buyers from outside of Spain, which was up 20.4%, year on year.
Breaking this down into nationalities, the revival was actually spearheaded by the Brits with 2,384 documented purchases over the October to December 2017 period. French buyers were next in the running with 1,242 purchases and 1,198 by Germans.
With a lot of this demand focused on the Costa del Sol, and with much of the new development and demand in Estepona, things are looking good for a strong 2018.
A Taylor Wimpey report indicated that there is also a growth of buyers from Sweden, especially in terms of brand new and off-plan property, with much of this activity again in the Estepona area.
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