Young buyers boost Spanish property market
Spain is building properties at 3 times the rate of the UK, but despite the relative abundance of supply, the country's property market remains buoyant thanks to sustained investor interest.
For the last five years, Spain's rate of property construction has far outstripped that of the UK, meaning there are plenty of opportunities to purchase homes.
The market is likely to prove a sound investment with price inflation of 9.7% according to figures from the Spanish Ministry of Housing.
David Bexon of SmartNewHomes.com explained: "Spain has always proved a popular destination for UK home buyers looking for somewhere to retire to. However, over recent years the market has experienced an injection of new life with the number of younger home buyers looking to invest in a second home here steadily on the increase."
He added that buyers with families are particularly attracted to the country and pointed to its warm climate, proximity to the UK and cheap flights as reasons for its sustained appeal.
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