Overseas boom - UK buyers among the top investors in Spain

Real estate agency, Lucas Fox, has revealed that across Spain’s top locations property sales to UK investors have experienced a steady increase.

These tourist-friendly cities include the capital city of Spain's Catalonia region, Barcelona, coastal town Sitges and party island Ibiza.

The top international investors 

For twelve consecutive months, residential sales in Spain have been rising. The National Statistics Institute report that in Q1 2022 there were 160,398 sales and 141,851 sales in Q1 2021. This is a remarkable uplift of 13.1%.

With sales up 129% year on year, the largest group of international investors are US buyers. Barcelona, Valencia, and Girona are the Spanish locations of most interest to purchasers from the States.

Lucas Fox also reveals that most UK buyers are investing in Spain for their primary residence or second home. Figures show UK investors are up 90% year on year, which means UK buyers are the second largest group of property purchasers in Spain.

Mohammad Butt, Barcelona office director, Lucas Fox, explains: “Barcelona, continues to be Spain’s no 1 property hotspot, attracting many second-home buyers and investors over the last few decades and an increasing number of expatriates making the city their family home. They come to enjoy all the economic and lifestyle advantages the city has to offer, like outstanding healthcare and education.

“The recent end of the rent capping in Barcelona now allows investors to fully capitalise from purchasing in an international city which offers an attractive and safe return on their investment. Barcelona stands as a safe investment compared to many other cities across Spain and internationally.”

“Spanish banks are still currently offering very attractive fixed interest rate mortgage offers which is fuelling both domestic and international demand. The overall consensus is that the European Central Bank will look to increase interest rates, therefore buyers should be looking to secure their financing before this may happen.”