Strong Pound is attributed for an incredible increase in Spanish mortgage enquiries
Spanish mortgage enquiries have increased by an incredible 95% according to a leading mortgage specialist. This increase is based on the 2013 compared to the 2014 January to September period.
Leaders in the property industry attribute this increase to the Pound Sterling reaching a 2 year high at 1.28 to the Euro. Also the potential upturn in the Spanish property market with an influx of investors cashing in on the low property prices which may be set to now steadily increase in 2015.
Spain also remains the most popular country for British buyers with Spanish mortgage requests accounting for an incredible 51% of overseas mortgages. Again, France is the next most popular accounting for 29% of enquiries.
The strong pound is making Spanish properties much more affordable for UK buyers with a typical 200,000€ property in Puerto Duquesa now being an incredible 25,000€ cheaper than it was 12 months ago ! This phenomenal saving coupled with Spains historically low mortgage rates make Spanish property affordability better than it has been for years.
Barrington Homes have also noticed an increase in interest in property in Duquesa especially from UK buyers looking for holiday homes in Puerto de la Duquesa. Property experts are predicting that property prices will slowly begin to rise throughout 2015/6 making now a great time to buy a property in Spain. Barrington Homes have a great selection of properties in Estepona, Manilva, Duquesa and Sotogrande at excellent prices. www.barringtonhomes.eu