Expected surge in demand for property purchases in Spain due to UK governments announcement
Last month we saw our highest monthly number of mortgage enquiries since the company was founded 15 years ago. This is evidence of a very strong demand for house purchases here in Spain. With the recent UK government announcement allowing foreign travel for certain activities including buying, selling or renting a residential property, we expect to see a surge in demand for property purchases and mortgage enquiries in Spain.
There is no doubt that the pandemic has accelerated people’s dreams of owning a property in Spain. Many employers have realised that productivity hasn’t been impacted by the switch to working from home and some are now offering it as a long-term option for their staff, and it seems that staff are keen to take up the offer! Working from home includes working from abroad too, although there are tax obligations to consider also. Many clients tell us they want to buy now and work from a home in Spain. This was unheard of in such numbers pre-Covid.
With the Euribor remaining well below zero (currently -0.483%) and mortgage rates still at an all-time low, there has been no better time to finance your dream home.
With the recent UK government announcement allowing foreign travel for certain activities including buying, selling or renting a residential property, we expect to see a surge in demand for property purchases and mortgage enquiries in Spain.