Thursday, 18 August 2011

New figures have revealed that a large percentage of Brits still favour making a money transfer and purchasing property in Spain

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Data from the College of Registrars shows people from the UK were the biggest buyers of second homes in the country than any other nation.

Last year, 4,350 properties were snapped up by British investors, while the French bought 1,627, making Britons responsible for one in every four purchases by foreigners.

However, despite UK buyers leading the field, 2010 saw a rise in demand from northern Europeans.

Mark Stucklin, managing director of home information web site Spanish Property Insight, welcomed the diversification of investors.

He commented: "The holiday-home market used to be far too dependent upon British buyers, which was a risk that many promoters and the banks' lending to them failed to understand. With the process of international diversification sales should slowly start to increase."

Swedish demand increased by 102 per cent, while Norwegian interest in Spain rose by 58 per cent.

In the hope of retaining and gaining more British investors, the Spanish government has introduced more information in English so that buyers are accurately informed on legal issues.

House builder Taylor Wimpey de Espana noted that so far this year, it has received an overall customer satisfaction rate of 86 per cent.

Sales and marketing director at the company Ignacio Osle described how Mallorca remains one of the most popular Spanish spots for Brits looking to invest in the country, with prices often higher than on the mainland.

Mr Osle said: "Brits are and have always been Spain's biggest fans attracted to the easy reach location, sunny skies and laid back lifestyle."

James Dearsley, European sales director for Atla

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