French cross the border in search of bargain Spanish property according to latest Kyero report
- 18.2% of foreign Spanish property buyers are French
- 51% of enquiries for properties within an hour’s drive of France
- 800,000 French citizens are Spanish speakers
It may come as no surprise that the English are the biggest foreign purchasers of Spanish property. For decades Brits have been flocking to the Costas for sun, sea and sangria and many have invested in family holiday houses that have the potential to become retirement homes in their golden years.
However, it seems that the English aren’t the only ones seduced by Spain’s charms. New data from Spain’s leading property portal, Kyero, which lists over 175,000 properties from 2,500 estate agents, has revealed that the French are the second largest group of foreign buyers of Spanish property.
Some 18.2% of overseas purchasers of Spanish accommodation during the past 12 months were French, according to the figures. Though they have some way to go before they rival the British figure (54.5% of purchasers), French buyers have already more than doubled those of their next nearest rival, Germans, who account for 7.5% of buyers.
So what is it driving so many of French across the border in search of Spanish property? The answer incorporates a range of factors. The desire for sunshine certainly comes into play (the weather in northern France is often not much better than it is in the UK), but it’s really a multitude of economic factors that have over the past year pushed more and more French buyers into Spain, as Martin Dell, Kyero’s Director, explains,
“The French economy is one of the strongest in Europe at the moment, providing French citizens with great buying power. 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. Property in Spain is incredibly cheap right now and for French buyers, being part of the Euro, means that the headache of currency exchange is removed from the purchase process.”
Spain’s northern provinces, within an easy drive of the border, have proven particularly attractive to French buyers. Kyero figures reveal that Girona, just 55 minutes’ drive from France, garnered 51% of enquiries during the period. It was followed by Castellon (46%), Tarragona (29%) and Cantabria (25%).
Spanish is the second most widely taught foreign language in French schools, with some 800,000 French nationals speaking it and leaving plenty with the desire to spend time over the border for anything from a long weekend to a more permanent arrangement.
The French preclusion for Spanish property is one of a number of insights made available thanks to Kyero’s data. The portal will be producing a new quarterly report from September onwards, capturing all of the essentials regarding the Spanish property market. Uniquely, it is the only Spanish property portal aimed at foreign buyers and, as 45% of buyers are non-English, is available in 33 languages to ensure that the Spanish market is accessible to all.
For more information, to ensure you receive your copy of the report and keep up to date with the latest in Spanish property trends, please visit www.kyero.com.