The Vigo Coast in Galicia is becoming one of the most desirable coastal destinations in Spain, according to new research from Spanish property experts Lucas Fox.
So much so, that UK and international buyers accounted for 13.7% of all buyers over the last quarter.
While Brits maintained their traditional leadership in the breakdown by nationality, this was followed by Germans (9.47%), French (7.05%), Moroccans (5.80%), Swedes (5.76%), Belgians (5.67%) and Dutch (5.04%),
The most sought-after area in the Galicia region is the Vigo Coast including Nigran and Baiona, Lucas Fox claims, closely followed up by the Pontevedra Coast, which offers quick access to the airport at Santiago de Compostela (famous as the end destination for an iconic pilgramige) and includes the areas of Combarro and Sanxenxo.
Finally, there is The Baixo Miño, which provides quick access to Portugal and Porto's airport, including the areas of O Rosal and Tomiño.
The agency has also witnessed rising property searches for Galicia, increasing by 101.07% over the last year. It says the region is becoming a more popular place to visit and buy second homes, but remains unspoilt and unsullied by tourism.
According to the research, the most active budget bracket at present is between 400,000 euros and 900,000 euros, but there is increasing interest from clients with higher budgets.
To back this up, Lucas Fox’s high-end exclusive properties are generating reasonable transactions between 1.2 million euros and 1.8 million euros, with the prime property selection in the region growing.
UK and international buyers have been looking for a chance of lifestyle since the onset of Covod-19, with Galicia said to offer more value for money when it comes to buying properties.
Rafael R. Rosendo, director at Lucas Fox, said: “The most desirable properties are divided into two categories, the ones in coastal/beach areas and the ones for buyers looking for peace and quiet out in the rural areas.
“At Lucas Fox, we tailor the property search to each client because someone´s hidden gem might not have any appeal to the next client. With our exclusive process, we are able to find what makes a hidden gem for each of our international clients, by also providing them with expert advice on purchasing a home in Galicia, and throughout the whole sale process."
He added: “The majority of buyers are interested in summer homes, or are looking for a property to retire in. We have noticed that buyers have become more inquisitive about the surrounding areas of the properties they are interest in. Our selective inventory grows continuously, as we keep searching to the offer the best possible product and service to our clients.
“We are also generating more referrals from happy customers who are not necessarily spending more, but are generating new business for us at a higher rate than before.”