Spanish property accounted for 40% of Brit enquiries in third quarter, say mortgage experts

Brits still prefer Spain ahead of all other destinations when it comes to looking for a home overseas.

The lure of Spanish property for Brits seeking a home overseas remains strong, with recent data from overseas mortgage specialists Conti revealing that Spain accounted for 40% of all enquiries in the third quarter of the year…

Furthermore, when that data is extrapolated over the period between January and September, Conti finds that 46% of all mortgage enquiries lodged by British buyers have been for property in Spain.

France is second favourite choice, accounting for 38% of enquiries between June and September, and 32% over the year to date, with Portugal the perennial bronze medal winner, accounting for around one-fifth of enquiries in the third quarter, and 16% between January and September, the data revealed.

With the strength of the pound coinciding with Spain’s recovering economy yet affordable property prices, homes in Spain represent superbly attractive investments for British buyers right now. Mortgage lending has also increased and terms have improved as lenders seek to capitalise on this new-found confidence coursing through the market.

Recent research also revealed the typical expat British buyer, finding them to be most likely aged between 45-64 and armed with a kitty of around €200,000 for a property. The average home bought by a Brit in Spain is around 100 square metres and located in Andalucía (the Costa del Sol in particular) and the Canary Islands, the data found.

And according to Google, 30% of property searches made by British people were for homes in Spain – more than any other nationality or country.