57% of the British who buy houses in Spain do so to acquire a second house. Thus, the second house market is confirmed as the engine of the British real estate market in Spain. 25% of purchases are due to a change of address, another 8% are carried out as an investment and the remaining 10% are due to other reasons.
This is one of the main conclusions of the round table moderated by Mercedes Blanco, senior vice president of FIABCI Spain, at the celebration of the SIMApro 2018 real estate fair. These data, presented by Carmen Reitano, New Homes Manager of Rightmove Overseas, made it clear that the British buyer remains one of the most influential in Spain. And that the British remain as the main boosters of the foreign market of the purchase-sale of houses in Spain during 2017, above French, German, Belgian and Swedish.
By zones, the coast is the favorite area for the British to acquire a house with 69% of the total, while 17.7% prefer rural areas and another 5.6% choose to buy a house in the city. By age, British “millennials” still have little weight in total transactions, representing 0.82% of the total, while the bulk of operations are concentrated in buyers whose ages are between 30 and 64 years.
Mercedes Blanco, senior vice president of FIABCI Spain, indicates that “the British buyer will not stop coming as much as the political or economic situation may vary in the UK, as Spain keeps being a reference for them in terms of welfare and real estate profitability. In addition, there is a large colony of British residents who feeds the sector of the purchase-sale of houses by British in autonomous communities such as Catalonia, the Balearic Islands, Murcia, Castilla-La Mancha, Valencian Community or Andalusia”.