British expats reveal why Spain is number one choice

More and more British expats are heading to Spain, with affordable prices and a weak euro among the key reasons for the recent upsurge.

The most popular choice is the Costa Blanca because of its sunny climate, the number of flights home and the large population of expats already living there, according to data published by estate agency HomeEspana.

The group explained that the current exchange rate meant UK buyers could purchase a 100,000-euro property in the Costa Blanca in mid-May for roughly 10,000 pounds less than it would have cost them a year ago. Meanwhile, the strength of the pound also means Brits receiving an income or pension in Spain are also better off at present.

HomeEspana managing director Kieran Byrne noted that since the beginning of the year there had been a definite rise in British buyers, particularly those moving to Spain on a full-time basis, in comparison with last year. He revealed that many buyers were also making their decision during their first visit to the country.

Byrne went on to say that the exchange rate was of course a key factor, but the feeling that property prices will no longer continue to drop, as shown by the rising prices in coastal regions and larger cities, had also contributed towards the current increase in purchases.

Figures from the Property Registrar’s Association showed that prices in the first quarter of the year shot up by 2.65 per cent – the highest rises for eight quarters.