Brits Dominate Spanish Property Market

New data released by the Spanish government shows that UK residents are the largest international buyers of property in Spain. While it has long been known that Brits love to buy in Spain, the data suggest that buyers from the UK are even more prevalent than many analysts previously thought.

 

British citizens accounted for 57.6 percent of the buyers from Europe who came from outside Spain in 2008. That comes to 11.485 purchases from Brits, out of a total of 19,924 European sales registered. While that is an extraordinary percentage of the international buyers in Spain, it is actually down from 2007, when Brits bought 17,072 properties, or 66 percent.

 

These figures have been released by Spain’s Property Registry, or Registro del Propiedad, and show how significant British buyers are to the holiday market in Spain. The next largest property buyers are from Germany. With 1,534 properties bought in 2008, Germans make up less than 10 percent of the market. Ireland buyers come in just behind Germany, followed by France and Russia.

 

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