Britons ‘showing record levels of interest in Spanish property’ Those of you who have been closely following the recent news headlines in relation to property in Sotogrande and elsewhere in Andalucia could be forgiven for feeling a little confused at the moment as to whether Brits are heading to Spain in great numbers, or instead going in the other direction.
Have Brexit and COVID-19 deterred would-be buyers from the UK, or is the historic longstanding interest in Spanish property among Britons as strong as ever?
Plenty of Brits are continuing to dream about owning a property in Sotogrande
As so often with questions like this, the reality is a little more complicated than many newspaper stories may suggest. After all, we did recently report that according to statistics from the Spanish Land Registry, Germans have now overtaken Britons among the non-Spanish purchasers of real estate in the country.
However, it would also be wide of the mark to suggest that Britons are no longer seriously interested in property in Sotogrande or elsewhere across Spain. The fundamentals that attracted such UK buyers in the first place are, after all, largely intact – think such things as about 3,000 hours of sunshine every year, stunning scenery, and highly rewarding cultural, sports and leisure attractions.
Plus, we are starting to see greater stability in the situations related to both the coronavirus and Brexit, compared to just a year ago. This probably helps explain why one of the online property portals we work with here at BM Sotogrande – Kyero – has just released data indicating record interest in Spanish property from Britons in 2021.
What do the new statistics reveal?
The Kyero data showed that the overseas property portal – the largest in the UK, with more than 870,000 European property listings – had seen its highest ever volume of traffic to properties in Spain during the first three quarters of this year (the nine months from January to September), compared to the equivalent period in any year since it was founded in 2003.
The site recorded 16% more enquiries for properties in Spain in the third quarter of 2021, compared to the corresponding period last year. And just to show that such a rise in enquiries was not solely down to the release of pent-up demand since last year’s lockdown, the data also indicated a 10% increase in enquiries for Spanish properties compared to the same period in 2019.
In separate news, a Kyero poll of over 2,000 people thinking about relocating to Europe found that three quarters of respondents were motivated to do so in order to enjoy better weather. 16% of would-be buyers, meanwhile, said they were seeking a cheaper cost of living from their move to another country.
Kyero founder Louise Dell said that Spain remained a magnet for prospective movers from the UK, adding: “Amidst the British winter of discontent – energy bill increases, petrol shortages, unpredictable weather and ongoing Brexit issues – more and more people are setting about making their dreams of moving to Europe a reality.
“Brexit has been a major driver for many Brits buying property in Europe over the last few years, and while it has had some implications on residency, a significant proportion of European house hunters are buying holiday homes, so demand has not been negatively impacted.”
Reach out now to the Sotogrande property experts!
Would you like to firm up your own interest in buying, selling, renting or letting property in Sotogrande? If so, it’s easy to get in touch with the BM Sotogrande team – and when you do, we can provide tailored advice, guidance and assistance, so that you can realise your ambitions in the ever-busy Costa del Sol property sector.