British buyers still rule

GOOD news for the Spanish house market as a new report, from leading international property portal Kyero, has revealed that British buyers remain the biggest overseas spenders when it comes to buying property in Spain, three years on from Brexit and despite a 17 per cent fall in enquiries from British buyers last year.

In an analysis of one of the largest data sets in the industry (consisting of buyers from 194 countries and 154,460 properties for sale with over 3,000 estate agents) it was found that the British, who have long played a significant role in the Spanish property market, have (just) managed to cling on to their number one spot.

This is despite losing significant ground to German and Dutch buyers since Brexit, but overall the number of international property buyers in Spain increased by 80 per cent in 2022 compared to 2019. British buyers continued to make up the largest proportion of overseas property spending in 2022 (12.54 per cent of the total market value).

However, compared to 2019 pre­Brexit figures, the increase in spending is one of the smallest of all nationalities.