Q2 demand for Spanish property among British buyers sees 29% increase

While British interest in Spanish property remains reassuringly strong, it is the Swedes who appear to have fallen in love with Spain the most this past year.

For some observers, this continuation of solid interest in the Spanish property market by Brits has come as a small surprise, given that Brexit was expected to scare away many Brits…

However, there has been very little impact in the market, and the official data bears that out. Overall, home sales across Spain during the second quarter of 2016 were up by 23.7% on last year, reaching 107,838.

The second quarter of the year has seen demand from British buyers of Spanish property increase 29% compared to the same period last year, according to data released by Spain’s Property Registrars.

The majority of homes sold – 93,409 – were bought by Spanish nationals, which is a reflection of the strengthening of the domestic economy and the welcome return of consumer confidence. Indeed, the number of Spanish buyers increased 22.9% on last year’s figures.

Brits were the next-largest group of buyers, accounting for 20% of all transactions involving a non-native. German buyers accounted for 8% of the foreign market, with the French and Swedes each making up 7% of transactions.

Yes, the Swedes. According to the data, Swedish demand for Spanish property surged a massive 60% on last year, while Italian buyers also stepped up demand by 46% on 2015. Demand from Chinese buyers also increased year-over-year by 31%, followed by the Brits, Germans (a 25% increase) and the French (a 12% increase).

Essentially, the majority of the Spanish housing market’s most loyal and largest consumer groups increased demand for property between 2015 and 2016, with only Russian and Norwegian buyers noticeably cool on the market, with demand contracting 1 and 2% respectively.