According to a report by The MoveChannel.com and an article published by Property Reporter on July 14th, 2016, demand for Spanish property has reached its highest point in 10 months. Spain took the top spot on the property portal’s charts in June 2016, surpassing US property, which dropped to third place, while the UAE rose to the second position. Investors are showing a continued preference for Spain due to its attractive lifestyle and promising investment opportunities.
In June 2016, Spanish property surged to the top of the charts on the property portal, making it the most sought-after country among overseas property buyers since September 2015. Spanish property accounted for an impressive 12.27% of all enquiries on the site in June, overtaking US property, which had been the top destination for the past year but fell to third place with 8.14% of enquiries. The UAE claimed the second spot with 10.12% of all enquiries.
Investors continue to show interest in alternative and emerging markets, with Turkey rising two places to seventh and India climbing one place to twelfth. Canada maintained its eighth position with 2.43% of the month’s activity, while Slovenia emerged as a summer hotspot, entering the Top 10 with 1.28% of enquiries.
Despite the Brexit vote, the UK buyers’ love for European property remains evident, as evidenced by the increase in enquiries for Cypriot real estate by 20% in Q2 2016. Spain’s popularity among investors is attributed to its steadily growing economy since Q3 2015 and attractive property prices, especially in key areas where prices have bottomed out. The weakening of the pound after the Brexit vote has also made Spanish property a compelling option for UK and non-UK buyers alike, with mortgage rates currently at their lows.
Spain’s share of activity in June 2016 was the highest since July 2013, indicating a strong demand for the country’s property. Although not reaching the peak levels of 2013, demand for Spanish property remains robust and surpasses the best months of 2015. Overall, Spain continues to be an attractive destination for both EU and non-EU buyers, offering a combination of lifestyle appeal and investment opportunities.