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August 2017

Overseas buyers spend record level on Spain property

Published: Tuesday 15 August 2017

By David Fuller 
 
Overseas buyers spent more than 888 Million Euros on Spanish property in the first half of this year, new figures show.

This is the highest ever half-year figure recorded, and smashes the 330 Million Euros spent by overseas buyers in the same period of 2016.

“A decade on from the crisis and Spain’s property market is not only back on its feet but thriving,” said Marc Pritchard from estate agency Taylor Wimpey España. “The appeal of owning a second property in Spain, be it to enjoy holidays with friends and family or to relocate, has endured. I have no doubt the country will welcome another record year of international investment.”
 
According to Pritchard, Taylor Wimpey España alone welcomed purchasers from 15 different countries in the first six months of 2017. German, Scandinavian, British and Russian buyers were most active in this period.

In addition to foreign investment in property, the first half of 2017 has also been a record breaker for Spain's tourism industry. The Spanish National Statistics Institute reports that 36.3 million tourists visited the country between January and June – a 12 percent rise compared to the same period in 2016. 
 
The majority of those who visited (8.6 million) came from the UK, while 5.5 million were from Germany; a 9.1 percent and 10 percent rise over the same period last year respectively.

Interestingly, there has been an 8.5 percent increase in foreign tourists using non-market accommodation. This suggests that more and more tourists are staying either at their very own Spanish property or one belonging to an acquaintance of private owner.

Find out more about buying property in Spain and the steps it takes to move to Spain in our free guide.”
 

About Halo Financial


Halo Financial is a leading UK foreign exchange brokerage, offering a comprehensive range of services to individuals and businesses since its inception in 2005. The business prides itself on offering a flexible and personalised approach for each of its clients, simplifying the seemingly complex foreign exchange market to maximise savings in currency transactions, protect against currency risk and make money go further.

Staffed by qualified technical analysts, the company is authorised by the Financial Conduct Authority and HM Revenue and Customs.

“Excellent”, “Reliable”, “Professional”, “Knowledgeable”, and “Helpful”– just some of the great feedback received as a Gold Trusted Service Provider for Feefo.com. The team at Halo are proud that customers rate their services so highly and are happy to recommend to others. The company is always striving to provide the best possible service and to innovate services and products in line with customers’ ever-evolving needs.

Halo Financial won Best Customer Focus category in the 2016 Best Business Awards; received OPP Gold for Best Supporting Service; the Gold Award for Financial Support and Innovation from Relocate Magazine, Commendations in the 2016 and 2017 Moneyfacts Awards and has 5 out 5 Star Customer Gold Merchant Status via independent review website, Feefo.com, winning their Gold Trusted Service award. 



For more information, infographics and the latest currency insights, visit www.halofinancial.com/news