A growing number of Belgian buyers are choosing Spain as their holiday home hotspot, according to one homebuilder.
North Europe has increasingly been a strong presence in Spain’s property market, with Scandinavian investors particularly active. Now, though, Belgian buyers are joining the trend, according to Taylor Wimpey España.
The firm says that the number of Belgian buyers looking to Spain as a second home destination increased by 43 per cent in 2016. In comparison to the previous year, the leading Spanish homebuilder experienced growing interest from Belgian buyers, representing 13 per cent of all Taylor Wimpey España reservations made in 2016.
The latest figures from the National Statistics Institute (INE) revealed that as of November, over 2.2 million Belgian tourists had visited Spain in 2016. The Costa Blanca is where property demand is highest, with sales to Belgian buyers increasing by 156 per cent alone last year.
Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España, comments: “The past twelve months have seen a real boost in sales to North Europeans, especially Belgian buyers. Easily accessible, with regular, direct, low cost flights, the Costa Blanca on Spain’s southeastern coast has become a holiday home haven for them in 2016.”
The figures arrive as big questions surround the future of British buyers in the country, as the UK’s vote to leave the European Union has weakened the pound, effectively making Spanish real estate more expensive. Research by TheMoveChannel.com shows that in 2016, demand rose for properties worth under £100,000, as buyers increasingly sought out budget opportunities. Estate agent Golden Properties also reports that they have seen a “major increase” in enquiries for properties under €50,000 from British investors.
At the same time, they have also seen increasingly diverse interest for Spanish property away from the usual British buyers.
“We’ve been working with one of Spain’s largest banks to bring excellent below market value properties with 100 per cent finance to our investors,” the agent tells TheMoveChannel.com. “This opportunity has been attracting investors worldwide to Spain, especially from East and Southeast Asia as well as Australia and New Zealand. These investors recognise the immense capital growth potential in the market.”