Spanish property enquiries soar in 2016

2016 has been a great year so far for Spanish property.

Property hunters around the world are searching for homes in Spain in ever-greater numbers, according to new data from TheMoveChannel.com’s latest Hotspots Index.

The index has revealed that the number of searches related to Spanish real estate has almost doubled so far this year compared to 2015, with the country dominating the Top 50 rankings list…

Among those Top 50 destinations, Spain boasts 15 separate locations, besting Italy – which has 14 – and ahead of France and Portugal. While Rome took top spot, Spain’s Benidorm was in third, rising 13 places in a year, with Málaga snapping up sixth place to help Spain register its best performance yet recorded on the Hotspots Index.

“Spain is off to a flying start this year, with interest remaining healthy among overseas buyers,” said TheMoveChannel.com Director Dan Johnson. “The Q1 2016 Hotspots Index arrives as the pound weakens against the euro, following a strong 2015 for the British currency, but optimism surrounding Europe’s real estate recovery is improving. Spain, in particular, is now widely considered one of the world’s best investment hotspots as well as a favourite lifestyle destination, thanks to a combination of low (but rising) prices, improving rents, and low mortgage rates.

“The rise of Benidorm to become Spain’s most popular property hotspot reinforces the importance of foreign demand in Spain’s property recovery, as British buyers seek out existing expat communities, fuelling price growth and reducing supply in such coastal areas. The Brexit referendum may be looming, but Europe is still top of British buyers’ shopping lists.”