Low prices attracting British buyers back to Spain says mortgage firm
ow interest rates, bargain property prices and a strong pound is luring British investors back to the overseas property market, according to a new report from mortgage specialists Conti.
In the first three months of this year the firm saw enquiries increase by 90% compared with the same period in 2013 with a sizeable shift in interest for Spain over the last six months.
Indeed Spain is making up around 59% of enquiries received at the moment, the first time that a single country has accounted for such a large percentage of enquiries.
Director Clare Nessling pointed out that perhaps it should not be a surprise as prices in some of the most desirable areas of Spain have fallen by up to 50% since 2007. However, she also pointed out that after a very difficult few years, prices are starting to creep back up in some areas, and people who have been watching the market are snapping up bargains while they can.
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