Costa Blanca top choice for Spanish property
And Spain continues to be top of the list for British buyers in general, accounting for just under half (45%) of enquiries received by the company in the second quarter of 2015.
The Costa Blanca is one of Europe’s most heavily visited areas, extending 200 kilometres along the Mediterranean coast with a resort to suit every taste. And it’s Alicante which has attracted the most attention from clients financing their purchases through Conti, with more than two thirds (69%) of Costa Blanca buyers choosing this location.
Hot on its heels, however, is the Costa del Sol with a 23% share of purchases, thanks to miles of magnificent beaches, championship golf courses and fantastic amenities which attract sun worshippers and sports enthusiasts to its leisurely lifestyle. The sun-drenched town of Marbella is the first choice destination.
The Balearic Islands are next on the list, accounting for 18% of property purchases, with Ibiza standing out as the firm favourite. Traditionally known for its lively nightlife scene, it’s also home to quiet villages and peaceful sandy beaches. And the Canary Islands, with a 15% share, are also increasing in popularity, particularly Lanzarote which lies on the same line of latitude as parts of Florida and Mexico, making it an ideal all-year-round destination.
Clare Nessling, director at Conti, said: “Following a very tough few years, the Spanish property market is on the up again at last and British investors are rediscovering their love for this beautiful country.
“Although prices have generally still to come back up to their pre-2008 levels, recent reports suggest that the property market is experiencing a widespread recovery and this is leading to increased confidence among investors.
“Combine this with the growing strength of the pound against the euro, which recently hit a seven and a half year high, and you can see why buyers are returning in their droves.”
According to Spain’s National Statistics Institute (INE), Spanish house prices jumped by 4.2% in the second quarter of this year compared with the previous three month period, strengthening the foundations of the country’s economic recovery.