Almeria Crowned as Spain’s Post-Brexit Hotspot

Beautiful Andalusian village by the seaAlmeria has been named Spain’s new post-Brexit hotspot, racing ahead of other regions when it comes to property sales.

The Head of Research at Spanish property portal, Richard Speigal, explains: “We’ve been studying the latest sales data from the registrars, looking for patterns across the Spanish provinces in the wake of the Brexit vote. Our own data has already revealed that British buyers are increasingly focused on value for money since the referendum. Now we’re seeing Almeria emerge as the clear choice for those looking for good value Spanish property.”

Annually, property sales in Almeria are up by 93% compared with the third quarter (Q3) of 2015, according to the registrars’ figures. With the rest of Spain growing modestly, Almeria is enjoying a substantial boost.

Almeria is located in Spain’s Andalusia region, on the country’s southern, Mediterranean coastline. While other Costas were busy building high-rise developments in the late 1960s to cram in as many tourists as possible, Costa Almeria remained largely untouched. Today, the costal town offers a sun-kissed charm that its more developed neighbours seem to have lost.

Sharon Garner, the Sales Director for Almeria-based Spanish Property Choice, says: “Costa Almeria offers exceptional value for money. Property here costs a fraction of what it does in the neighbouring Costas. Our coastal towns remain full of charm and character and, just a 15-minute drive away, you can find yourself in wonderful countryside. This lifestyle is sought by a new influx of foreign buyers, including French, Dutch and Germans.

“Of course, there is still a steady flow of Brits still searching for their little slice of the Spanish lifestyle. We’ve been shocked at the response to the Brexit vote by British buyers. We’ve seen a sharp rise in sales and long-term lets, both of which have superseded our expectations for the year.”

Spanish Property Choice has had to expand its staff team twice already this year to cope with increased buyer demand. The company’s data also reveals a shift in clientele over the last few years; when the firm opened in 2007, overseas buyers in Almeria were largely aged between 55-65. Now, it is 45-60 year olds who are seeking second homes in the sunshine.

Kyero’s Speigal echoes these findings: “There used to be a fairly well established pattern of British buyers working until their retirement date and then spending their savings on a home in the sunshine. Modern ways of working and shifting values among the younger generation are having a significant impact on that approach. Many people struggle to buy UK property well into their 30s, if not their 40s, these days.

“With remote working an option and property prices in Spain so reasonable – and particularly so in Almeria, where the average property costs just €129,000 – the appeal of moving overseas to raise a family has never been stronger.”

By comparison, the average property in Alicante is €210,000, while in Malaga, the average price is €295,000.

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