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Spanish Property News

60% of British overseas say they prefer Spain - Posted: 15/10/2009

A positive sign of renewed interest in Spanish property driven by low prices and movements in the UK property market.

Thousands of people attended the "A Place in the Sun" exhibition held at the NEC in Birmingham. Attendances had been low at international property shows in the UK and some of the organsisers had gone into bankruptcy owing to the overall downturn in property sales everywhere, but "A Place in the Sun", backed by a UK TV programme by the same name, made a strong come back at the NEC and was well attended. The exhibition had been well publicised, and visitors came flooding through the doors.

This was especially good news for Spain, the favourite destination for potential Spanish property buyers. No fewer than 60% of visitors indicated an interest in Spain, with France coming second despite its familiarity and geographical proximity to Britain. Spainís main competitors were France, the USA, Australia and New Zealand, which were offering immigration packages.

Surveys of the visitors attending the show indicated that many buyers have been waiting for the right moment, and are now ready to make the move, as prices are unlikely to drop any further. Asked why they were looking at Spain, they mentioned, the climate, the friendly people, and previous enjoyable holidays in Spain. Buyers were also aware of the problems now facing investors who had opted in the past for destinations less well served by the airlines. While flights to many of these have been reduced or scrapped altogether during the credit crunch, Malaga airport continues to be served by numerous airlines with dozens of flights every day to the UK.

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Mark Haybittle