Brexit Dividend For Property Market

New data out today shows demand for property in Spain is set to soar with a surge in viewings as lockdown lifts – some 39% of buyers are now actively viewing or planning trips abroad, and 51% plan to move to Europe within the next 12 months, says Eugene Costello…

Spain remains by far the most popular destination for British overseas home buyers, with 90% of all those polled looking to buy in the country.

Interest in overseas property in Europe is set to surge despite the ongoing uncertainty regarding foreign travel, with almost 40% of buyers now actively viewing or planning viewings abroad, according to research released today by Kyero.com.

The research, which involved over 2,500 overseas buyers, found that Spain remains by far the most popular destination for British overseas home buyers, with 90% of all those polled looking to buy in the country.

Some 50% are looking to make the move overseas within the next three months to a year, and a further fifth (19%) stated that they wish to move ‘as soon as possible’.

Moving abroad is a lifelong dream for many people with 28% of respondents saying they have wanted to move abroad for more than five years. 

In terms of budgets, the most common (45%) budget is €100,000 – 250,000, although a significant 35% are looking to spend less than €100,000. And 13% have a budget in mind of between €250,000 – 500,000 and 3% have up to €1M.

More than eight in ten buyers (83%) stated that they do not need a mortgage for their purchase.

And it’s good news for Valencia. For the Comunidad, this April there was a 125% increase in enquiries compared to the same time last year.

The city of Valencia had a 71% increase in enquiries this April compared to April 2020, showing that with the emergence of the end of lockdowns, buyers are seriously looking to make their move.

Martin Dell, Founder of Kyero.com says: “Now that lockdown is lifting and overseas travel for reasons relating to property is becoming possible, we’re seeing a tsunami of pent-up plans being put into action. 

“Some 52% more people searched online for homes in Europe in the first three months of 2021 compared to the previous quarter, and now that people can start turning those dreams into reality, we’re expecting to see a lot of transactions take place in 2021.

“With UK property prices increasing at their fastest rates for years, European property offers an appealing alternative for many people,” adds Dell.

The Kyero research comes as restrictions on overseas travel ease with Portugal now on the government’s green list. While Italy, Spain and France are now on the amber list of countries, you can travel to them for reasons related to home purchase, rental or letting, depending on the latest travel guidance of the destination. 

Kyero.com was established in 2003 and has helped c.40,000 people buy a foreign property in Europe. It has the largest selection of property of any of the foreign property portals, with over 800,000 properties listed.

© Brexit Dividend For Property Market – TheValencian

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