English Estate Agents in Alicante Spain
The foreign buyer boosts the second residences market in Spain
The demand for holiday homes is growing again after a decade of crisis.
The market of holiday homes in Spain is growing again. A decade after its collapse, sales on the coast increased at a two-digit pace driven mainly by foreigners, who in 2016 made 13.7% of all purchases. In provinces like Alicante they even accounted for half.
This is despite the fact that the purchases of the British, the main customers, lost bellows throughout the year by the devaluation of the pound. But the recovery goes through neighborhoods. The provinces with more stock of the time of the bubble and that depend on the national tourism are still behind. In contrast, in others there are already cranes to accommodate more foreigners who want to have their second home in Spain.
Spain lived during the time of the housing bubble a particular boom of second homes, especially on the Mediterranean coast. The arrival of the recession and the destruction of employment wiped out the national demand, while the foreigner moved away after seeing the price collapse and legal uncertainty caused by several cases of corruption. Today that buyer is back.
Brexit is noticed in the buyers.
The British are the first foreign buyers of housing in Spain. In 2016 acquired 10,552 homes, 13.74% of purchases from foreign customers. That is 6% more than last year, but since the College of Registrars warn that British purchases have been falling and losing four quarters for four quarters. The consequences of Brexit and, especially, with regard to the behavior of its currency, are becoming noticeable.
Complete Spanish Property are your English estate agents in Alicante, Spain.
As an independent real estate company, at Complete Spanish Property we pride ourselves on a relaxed, welcoming approach to property, allowing our client´s to not feel daunted by the process but to ensure they have an understanding of what is needed and when.
During the time the Company has been in business, we have developed some excellent relationships with solicitors, mortgage brokers, builder´s, currency exchange companies and much more to allow our client´s to have every angle covered once they have found the right property. We guide and assist you through the whole process and once our clients become owner´s we are always there to offer our help and assistance afterwards.