'Brits buy more property in Spain than previously thought'
07/05/09 20:30
British buyers account for more Spanish property sales to expats than any other European nationality, says property expert Mark Stucklin.
Earlier studies estimated Brits snaffled up 30 per cent of the expat market. Mr Stucklin, author of property blog Spanish Property Insight, now says that figure is actually 57.6 per cent.
"That has big implications for the market, now that the weak pound and other factors have hit British demand hard," he noted.
The Spanish government recently released the figures - the first time it has revealed buyers' nationalities.
According to the data, in 2008 other countries that took an interest in the Spanish property markets were Germany (7.7 per cent), France (6.1 per cent) and Russia (6.4 per cent).
The south of Spain has a well-established British community and is a popular location for those seeking warmer climates and an expatriate lifestyle.
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