Spain was a popular place for expat property until the 2008 global financial crisis took the bottom out of the market, but things have now taken a turn for the better.
The International Monetary Fund has hailed the country for its remarkable economic rebound and overseas property buyers, particularly from the UK, are returning.
“Spain’s economy is recovering well with GDP forecast to reach 2.5 per cent in 2016, outperforming the UK and Germany,” said Kate Everett-Allen, partner at Knight Frank International Residential Research.
According to Foreign Office figures, there were more than 770,000 British people resident in Spain in 2014 – placing it behind only the USA (2.2m) and Australia (1.1m) in popularity.
The country also has one of the most undervalued housing markets in the world, according to figures issued earlier this year by the Organisation for Economic Development.
Two very different Spanish developments provide a market snapshot – one new high-end venue in the Canary Islands where sales are outstripping construction and another long established, quite British and more affordable place on the Spanish Costas.
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