Foreign buyers increase as British buyers continue to decline!
Exactly 12 months ago, in this column, I reported that the UK share of the foreign buyer’s market had declined by 28% and accounted for just 19% of the total. I was quite surprised to discover on my research that this trend has continued into 2018. There has been a further slip – resulting in the UK segment of the foreign buyer’s market now down to 14%!
I was surprised, simply because our own experiences do not reflect these figures. Yes, of course we are still seeing demand from other segments of the overseas buyer’s market increase – particularly Northern Europeans, but compared to last year, we have experienced an impressive increase in British buyers. The only explanation I can find is that the popularity of the Costa Cálida and Murcia region continues to grow for British buyers, whereas other historically popular areas like Costa Blanca and Costa del Sol are probably peaked-out.
Growth in home sales patchy.
Across Spain, actual property sales fell unexpectedly, though this can mainly be attributed to the growth in popularity of new build homes which have not yet counted as completions in the Notary and Land Registry. There is always a lag when new build property is in a growth period – this is corroborated by the fact that, stripping away the new build figures reveals an actual sales increase resales of 1%.
Murcia performs well in regional sales growth.
Murcia and our neighbour Almeria were in the top 4 regions with higher than average property sales with Murcia region (4th) recording a healthy 9% rise compared to last year, whilst Almeria was 2nd in the table with a whopping 25% increase, which once again proves my point that the less over-developed areas are increasing in popularity.
We are expanding our sales and listing team in the coming weeks to meet with the demand in viewing clients. If you have a property to sell, please don’t hesitate to contact us for a free valuation and advice on how to proceed with selling your Spanish property.
Fuente Alamo Real Estate/Murcia Coast & Country
Tel 0034 968 598 173