Brits account for one-in-five Spanish properties sold to foreigners

The data shows that one-fifth of all properties sold to foreigners in Spain are bought by Brits.

Data from Spain’s land registry – the Colegio de Registradores – has confirmed what many leading real estate experts have long suspected: British buyers are far-and-away the largest single group of foreign buyers when it comes to Spanish property…

In the first half of 2015, 12.7% of all property transactions recorded throughout the country were made by non-domestic buyers, the land registry figures show.

Of that group, 19.8% were British people, making Brits the largest group of non-Spanish property owners in the country. Indeed, the registry shows that 16.7% of registered property in Spain belongs to UK citizens, which is a massive amount when one considers that the French, with 10.3%, are the next single-largest group, ahead of the Russians on 7.5%.

According to data from British property portal Rightmove, Brits aged between 55 and 64 are most likely to enquire about purchasing a property in Spain, accounting for 43% of all home searches in the country. And despite younger expats now accounting for one-third of Brits who move overseas, those aged 45 to 54 are the next-largest group of interested homebuyers, accounting for 31% of all enquiries.

This is not surprising. While Spanish property is far more affordable than in previous years, and much cheaper than the average home in the UK, buying in Spain still represents the type of investment that is more attractive to the slightly older generation.

Further data from the land registry showed that 90% of higher-end properties sold in Spain – those priced above €1 million – have been bought this year by foreign buyers, with Brits once again leading the pack.