Spain is now one of the ten most attractive countries to prospective investors, according to the recent findings by Ernst & Young.
In the international accountancy firm’s 'Real Estate, Hospitality and Construction Capital Confidence Barometer' report Spain has climbed seven places to ninth position. The report ranks countries by level of interest to investors looking to make a property acquisition in the upcoming months. This substantial rise puts Spain ahead of both France and Italy.
And it seems that savvy investors are already seeking out real estate within the Spanish market, with the latest figures from Spain’s National Statistics Institute (INE) showing that residential property sales increased by 23.6 per cent in May this year. These numbers are the highest recorded since January 2013, confirming the confidence international investors have in Spanish real estate.
Meanwhile, according to the property valuation and consultancy company Tinsa, half of the main 135 coastline towns in Spain have rises in average property prices this year. With experts forecasting a stabilisation of property values over the next few months before they start to rise again, now could be the perfect moment to invest.
Despite the EU Referendum result, Britons remain the main foreign buyers in Spain, representing around 20 per cent of sales to non-Spanish buyers. Aside from the appeal of the Spanish climate and lifestyle, Spain remains excellent value for money to Britons, with the average house price per square metre over two times lower than in the UK.
A key buying area for foreigners in Spain is the Costa Blanca, home to the resorts of Moraira, Jávea, Dénia and Calpe in the northern half, and Torrevieja, Villamartín, Playa Flamenca, Cabo Roig and Campoamor in the southern half.