Properties for sale in costa del sol
Imitation is the sincerest form of flattery, so the surge in French buyer’s interest in Spanish property is a positive market indicator.
Known for their impeccable tastes, heightened sense of style and appreciation of life´s quintessential qualities, French buyers account for 18.2% of Spain´s property purchases over the last 12 months – second behind the 54.5% of British buyers, but more than double the 7.5% of Germans.
Even compared to southern France, the weather is far better in Spain – a factor French property buyers take into account often experiencing equally chilly conditions as those in the UK.
According to the latest industry analysis, a combination of geographic, cultural and economic factors can be attributed to the rise in numbers.
The long French-Spanish border across the Pyrenees Mountains is easy to cross by road and Eurail – as neighbours, many French see Spain as a logical destination for golf and spa weekends and in which to spend longer periods or settle on a permanent basis.
France and Spain cooperate on European matters where close physical proximity is conducive to productive relations.
Ahead of English, the French like speaking Spanish – a significant number use Spanish as a first or second language, and Spanish is the second most important foreign language taught to French school pupils.
France´s cultured classes are grateful for the influence Spain´s greatest painters, Diego Velázquez and Francisco de Goya, had on the work of famous French Impressionist, Édouard Manet. Alarmingly, Manet painted The Spanish Singer in a “strange new fashion caused many painters´ eyes to open and their jaws to drop.” That´s making an Impression!
More importantly, French buyers flock to Spain for the once-in-a-lifetime opportunity to buy their piece of paradise, taking advantage of Spain´s highly competitive property prices.
The current strength of the French economy provides greater buying power for French citizens. As Eurozone members, currency transactions for purchase are straightforward, allowing them to move quickly on a sale.
According to director Martin Dell at Kyero: “With the French property market looking pretty flat, many are casting their eyes further south in search of holiday home bargains that can satisfy both investment and lifestyle requirements.”
Spain’s National Institute of Statistics revealed data last week confirming 25,720 completed residential property sales on the private sector Property Register in July, while latest research from global financial advisers Deloitte shows Spanish housing is now among the most affordable in Europe.