Hunt for cheap property abroad heads to Spain

  • 13 years ago
  • Uncategorized

Britons hunting for cheap property abroad are heading to Spain as the country’s market benefits from low prices, and Torrevieja is at the heart of the revival.

Torrevieja is Spain’s “hottest” tourist destination

The Costa Blanca town is “the hottest sales spot on the Costas”, reports Torrevieja ranks just below Madrid and Barcelona in terms of property sales in 2011, bringing in British buyers as well as Scandinavians, who are the principal investors in Spanish real estate..

In total, house sales have increased by 6%, with foreign investors attracted by the country’s lowest property prices for a decade.

UK buyers increasing interest

The Spanish property specialist has also reported a rise in queries from the UK. Sales manager Ben Walker commented: “One in three inquiries currently comes from UK residents, better than the one in four British purchases recorded by the Spanish Registry.”

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