British buyers still rule

ishing 200 per cent since the new rules ‐ aimed largely at stags and hens ‐ were publi‐cised last June.

“In Magaluf, bookings are up 60 per cent and it seems these rules are having abso‐lutely no impact on people’s desire to party in Spain and the EU.

“That’s why we are seeing unprecedented demand for budget‐friendly Spanish re‐sorts like Benidorm, and even though there are tough rules, that’s unlikely to put people off partying there,” he con‐cluded.

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 en‐quiries from British buy‐ers last year.

In an analysis of one of the largest data sets in the industry (consist‐ing 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 sig‐nificant role in the Span‐ish property market, have (just) managed to cling on to their number one spot.

This is despite losing significant ground to German and Dutch buy‐ers since Brexit, but overall the number of international property buyers in Spain in ‐creased 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 pre‐Brexit fig‐ures, the increase in spending is one of the smallest of all nationali‐ties.