British buyers are the leading international investors in Spanish residential real estate, but who are they, exactly? A new study by broker Tranio.com aimed to find out.
The analysis, as reported by Overseas Property Professional, found that buyers from the United Kingdom account for around 30% of the all foreign property purchases in Spain, far ahead of the second-place finishers France and Russia, each responsible for about 10% of sales.
But who is the typical British buyer in Spain?
Overseas Property Professional:
Among top UK buyer trends are:
- Most buyers are men and women reaching retirement or pre-retirement age (45-64 years old)
- They use property for personal use, not investment
- Over 75% of transactions made without a mortgage
- The most popular destinations: Andalusia, Valencia and the Canary Islands
- The most popular location: seaside property
- There is interest in new and secondary housing markets
- Equal interest is shown in houses and apartments
- The average property size is over 100 square metres
- The average selling price is higher than that paid by any other foreign citizens.
The publication also notes British buyers strong appetite for Spain’s high-end home market: “According to Spanish Property Insight, 90% of housing priced above €1million is purchased by foreigners, with traditionally many British citizens among them.”
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