British buyers choose Spain to acquire property thanks to the fortress of the Pound
According to a recent study made by Conti, the famous company specialized on foreign mortgages; Spain is still the favourite destination for buying properties by British people. With almost the half (a 45%) of the consultations received by the company during the second term of 2015, Spain consolidates again as the favourite location to acquire second property.
The good economic data of the country and the stabilization of the housing prices, join the strength of the pound against the euro, which adds a discount of the 10% in the price of the properties compared to last year:
- Property of €200,000 à £ 158,228
- Property of € 200,000 à £ 142,857 (10% less)
The prices in some Spanish areas have been reduced almost in a 50% since 2007, but the market seems to be in its way to recovers. New prices drops are not expected and some areas seem to be experimented price increases due to the low properties stock in determinate zones.
This is carrying out more confidence within the British investors, which the majority of them were postponed until now their plans in order to buy a property, waiting for better conditions, ensuring in this way their investments.