Spanish And Canary Island Property Continues to Regain Popularity in 2011
The number of searches for Spanish property in January this year was 37.05% higher than last year according to overseas property portal Homesgofast.
According to the portal the trend that has been noted since the Spanish property market imploded; namely the dominance of the Balearics and Canary Islands, property market not only continued in January but became even more pronounced. One third of all enquiries into Spanish properties were for those islands according to the portal.
"It's interesting to see how Spain despite the bad press is still very attractive to overseas buyers considering retiring or buying a second home abroad," said Nick Marr, director of the portal.
"The change towards the Balearic and Canary Islands property may be a result of the bad press that the Spanish property market has received," he continued. "People looking to get away from the UK winters still see Spain as a great place to holiday. The Canary Islands offer winter sun and a housing market that has not received the negative press that mainland Spain has endured."
"House values in Spain are at an all time low and the increase searches may be a result of both buyers and sellers researching the market."
Nick is right about the British aspect. According to the Association of British Travel Agents, Spain is still the number one holiday destination for Brits, with over 11 million British visitors gracing the shores every year.
This combined with the fact that Brits bought more overseas property per head of population than any other nationality during the boom and you can easily see why the Spanish property market's boom was one of the biggest in the world.
According to many overseas agents, Brits are now being outnumbered by Eastern Europeans, and this is likely at least a part of the reason why the Spanish islands are more popular, because they have traditionally been favoured by Eastern European buyers, according to real estate agents.
This is simply the latest in a succession of reports that Spanish property is regaining popularity with overseas property buyers -- starting from as early as the first quarter of last year. During the last 12-18 months almost all of the UK's top property portals have revealed growth in the popularity of Spanish property, with many of them featuring the country in first or second place on one or more occasions.
The aforementioned ABTA data was in an interview aimed at promoting Turkey, and the fact that British tourism to Turkey is growing at about 20% per year for the last few years, while Spain is stagnating.
However, stagnating is not falling, and with Turkey currently receiving 2 million British visitors per year (German is dominant market), it will be some time before Spain is knocked off the top spot. With Spanish property prices at between 20 and 40 percent below boom levels, and now thought to have bottomed, one must expect its popularity with foreign buyers (especially Brits) to see continued growth this year. .
The Canary Islands consist of Tenerife, Las Palma, El Hierro, La Gomera, Gran Canaria, Fuerteventura, Lanzarote and several smaller islands.
Source Homesgofast
http://www.buyin-fuerteventura.com
According to the portal the trend that has been noted since the Spanish property market imploded; namely the dominance of the Balearics and Canary Islands, property market not only continued in January but became even more pronounced. One third of all enquiries into Spanish properties were for those islands according to the portal.
"It's interesting to see how Spain despite the bad press is still very attractive to overseas buyers considering retiring or buying a second home abroad," said Nick Marr, director of the portal.
"The change towards the Balearic and Canary Islands property may be a result of the bad press that the Spanish property market has received," he continued. "People looking to get away from the UK winters still see Spain as a great place to holiday. The Canary Islands offer winter sun and a housing market that has not received the negative press that mainland Spain has endured."
"House values in Spain are at an all time low and the increase searches may be a result of both buyers and sellers researching the market."
Nick is right about the British aspect. According to the Association of British Travel Agents, Spain is still the number one holiday destination for Brits, with over 11 million British visitors gracing the shores every year.
This combined with the fact that Brits bought more overseas property per head of population than any other nationality during the boom and you can easily see why the Spanish property market's boom was one of the biggest in the world.
According to many overseas agents, Brits are now being outnumbered by Eastern Europeans, and this is likely at least a part of the reason why the Spanish islands are more popular, because they have traditionally been favoured by Eastern European buyers, according to real estate agents.
This is simply the latest in a succession of reports that Spanish property is regaining popularity with overseas property buyers -- starting from as early as the first quarter of last year. During the last 12-18 months almost all of the UK's top property portals have revealed growth in the popularity of Spanish property, with many of them featuring the country in first or second place on one or more occasions.
The aforementioned ABTA data was in an interview aimed at promoting Turkey, and the fact that British tourism to Turkey is growing at about 20% per year for the last few years, while Spain is stagnating.
However, stagnating is not falling, and with Turkey currently receiving 2 million British visitors per year (German is dominant market), it will be some time before Spain is knocked off the top spot. With Spanish property prices at between 20 and 40 percent below boom levels, and now thought to have bottomed, one must expect its popularity with foreign buyers (especially Brits) to see continued growth this year. .
The Canary Islands consist of Tenerife, Las Palma, El Hierro, La Gomera, Gran Canaria, Fuerteventura, Lanzarote and several smaller islands.
Source Homesgofast
http://www.buyin-fuerteventura.com
Labels: buyin fuerteventura, canary island, canary island property, fuerteventura, Gran Canaria, lanzarote, spain, spanish property
posted by BuyIN Magazine at
12:22
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