Mirroring the most recent Rightmove Overseas report, Spain has been rated as the UK’s favourite overseas property destination in the latest report by OverseasGuidesCompany.com. We take a closer look at where Brits have been buying in 2015…
Spain has cemented its position as the most attractive place to own an overseas home in 2015, according to the latest Quarterly Index by on-line resource OverseasGuidesCompany.com, which ranked France as the UK’s second favourite destination.
Enquiries for Spain to the OverseasGuidesCompany.com were up 104 per cent in the first three months of 2015 compared with the same period last year. Meanwhile, six of the top 10 destinations (those that receive more than 100 searches per day) on Rightmove Overseas during March were in Spain, including the top three spots. In addition, the portal confirmed that Marbella is currently the most searched for destination by people buying specifically for investment.
OverseasGuidesCompany.com’s Q1 2015 Index highlighted a significant overall uplift in interest in overseas property. Between January and March 2015, the company received 15,209 enquiries, in the form of downloads of its country specific Buying Guides. This was a 31 per cent increase year-on-year, compared to the 11,590 received in Q1 2014, and a mammoth 96 per cent increase compared to the last quarter of 2014, when 7,761 enquiries were received.
Angelos Koutsoudes, Head of OverseasGuidesCompany.com, said: “There is little doubt that the favourable exchange rate has triggered a large number of British people to consider an overseas property purchase, in particular in the Eurozone. Based on this very bullish first quarter – which was particularly evident at the A Place in the Sun Live exhibition in Manchester in March, we’re expecting bumper second and third quarters this year. Once the election and the uncertainty it brings with it have passed, interest in overseas property should continue to gain momentum, helped of course by a strong pound – which to some degree is dependent on the election result. The new pension rules, enabling hundreds of thousands of people to access the cash in their pension pots, could be adding to the resurgence too, as could the UK’s buoyant housing market.”
Looking closer, the Q1 2015 Index revealed a 66 per cent increase year-on-year for enquiries for France and a staggering 98 per cent year-on-year hike for Portugal, the third most popular destination in terms of number of enquiries. The most popular non-European location, the USA racked up a 39 per cent increase year-on-year compared to Q1 2014, despite Sterling’s drop in value against the dollar so far this year.
Returning to the Rightmove Overseas March report, the top three Spanish destinations included Sucina and La Manga del Mar Menor, both in the Murcia region, and Alora, a municipality inland of Malaga in the southern Andalusia region. We’ve found an exciting property for sale in each that offers value for money and would be ideal as a holiday home or place to live. For more information about each, click on the photo.
Sucina
New three-bedroom villa next to the golf course.
La Manga del Mar Menor
Four-bedroom detached house close to the sea
Alora
Restored three-bedroom finca with lots of land
More info
For more information on buying overseas property successfully, download the Overseas Guides Company’s free France Buying Guide, Spain Buying Guide, Italy Buying Guide, Portugal Buying Guide or USA Buying Guide – and start receiving free news updates by email.
If you are considering an overseas property purchase in 2015, whether for lifestyle or investment, opening a no-obligation account with FCA-authorised Smart Currency Exchange will enable you to benefit from their competitive exchange rates and specialist currency knowledge, ultimately saving you money and time. For more information, download Smart Currency Exchange’s free report or visit the Currency Zone.