The British Appetite For Spanish Housing

3/04/2014 – El Mundo

The interest in offering and buying the Spanish housing has grown considerably in the British market. One third of the international fair ´A Place In The Sun´ that took place between 28th and 30th March was dominated by Spanish exhibitors. As statistics of Inmoaction show, 45% of the British investors are ready to buy a house in Spain in next six months. Inmoaction itself, trading and promoting Spanish real estate, received 112 inquries over the three days.

About 60% of all questions from potential investors concerned Catalonia, Andalusia and the Valencian Community. However, as Daniel Talavera, a director of Inmoaction claims the preference does not necessarily mean that other regions of Spain are unattractive to the British. For example, only the north of Spain, including Burgos, received 11 unexpected requests. The most popular are 3-bedroom dwellings.

More than 6 thousand visitors attended the fair in Olympia London where 156 exhibitors from all around the world promoted their ´overseas property´. Among the exhibitors who stood out there was Spain (56 stands), Italy, France, the USA (in majority represented by stands from Florida), Portugal and Brazil. According to Inmoaction, ´a luxury product is the most appropriate for the fair clients as their budget intended for property purchase oscilates around 220.000 Pounds (260.000 Euros)´. There were four luxury product stands and only one of them was from Spain. The most expensive property put up for sale by Inmoaction.com asked for almost 700.000 Euros´.

The Investors

The London fair is organized in 98% for so-called “home buyers”, who aim at acquiring a holiday or secondary house in Spain. Four investors seeking economic profit from houses came to the stand of Inmoaction: a British firm, an individual buyer, a group cooperating with the Middle East and another international group preparing a sightseeing tour in Spain just before summer.

Reactions of Spanish Stands

´We targeted 50 requests and we met them – and then some! Moreover, most of them were issued by customers who will come to Spain in one-two weeks´, says spokesman of a real estate company from the Valencian Community.

A lawyer firm from Marbella contentendly adds: ´we had plenty of work during this year´s fair as many investors were curious about taxation and hereditary law in Spain´.

Also Adaix Paraiso Norte that made use of advisory services of Inmoaction left the fair satisfied. ´It has been our first international fair trade (…) but the results are fabulous.  We have received an avalanche of inquiries and the overall experience will allow us to improve in the future´. (…).

Participation in trade fairs is essential for ensuring recognizable brand and customer trust and, conseqently, great success. (…).

 

Original article: El Mundo

Translation: AURA REE

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