Expats more important to Spanish property than ever

More and more Brits are jetting off to find their dream home on the Costa del Sol

Recent figures from Spain’s General Council of Notaries show that non-resident foreign citizens accounted for 38,312 property sales in Spain in 2012.

That figure is a massive 28.4 per cent increase on 2011 figures, and represents the largest number of foreign investors since 2006 – which was widely considered to be the height of the last property boom.

Now, there is no boom to speak of at the moment, just a steady and stable return of confidence to the Spanish property market, particularly where two facets overlap: the Costa del Sol and British buyers...

Brits are still Spain’s biggest fans, accounting for 15 per cent of all foreign property purchases in Spain last year – more than any other nationality. The Costa del Sol, meanwhile, has seen a positive influx of overseas investment, which has helped the property market there ride out the previously stormy conditions.

But it’s not just the Brits who love the Costa del Sol. There has been strong recent interest from buyers from Norway, Sweden, Switzerland and Belgium.

Getting to the Costa del Sol has never been easier, too, with the UK boasting more routes to Malaga than any other nation, with 22 in total. There have also been seven new routes added relatively recently to Germany, a couple more to France and an expansion into Scandinavia, including the Norwegian city of Bergen.

As a result of this increase, this summer will see Malaga airport cater for 10.1 per cent more seats and 8.9 per cent more flights than last summer, with Delta Airlines resuming direct flights between Malaga and New York’s JFK airport, which is exciting news for Brits already living on the Costa del Sol.

Despite the strong showing of the property market, Andalucia in general continues to struggle, with a recent EU survey finding that the region is the second-worst in Europe in which to find a job, after Spanish exclave Cueta, which is located on the North African Mediterranean coast.