Spanish property experts believe that UK citizens are missing out on fantastic property investment opportunities while investors from Scandinavia and the Benelux countries are snapping up incredible property deals.
Although Spanish Hot Properties have seen a 1000% increase in enquiries from UK investors since February, it is mainly from investor groups, who appear to be the only ones with funds available to buy at any great level.
Managing Director Nick Stuart believes the Euro is still a major obstacle for British buyers: “There’s lots of interest from Ireland and all other parts of Europe other than Britain. Which is a shame as there are bargains to be had, such as a €1.2m Villa in Marbella going for €650,000, a €20m luxury Villa on the beach of the Golden mile available at €12m, a detached house in the middle of Barcelona going for €280,000, frontline beach properties in Murcia for under €200,000 and 2 bedroom apartments in Calahonda for under €140,000. Its not difficult to see why European buyers are seizing the opportunity to buy in Spain, with the exception of UK buyers”.
It will be interesting to see what it takes to bring UK property investors back to the Spanish property market. Is it simply a change in the exchange rate, or will other factors need to come into play?