The Costa Blanca has accounted for 27% of Spanish mortgage enquiries received at Conti over the last three years.
Spain continues to be top of the list for British buyers in general, accounting for 45% of enquiries received by the company in the second quarter of 2015.
The Costa Blanca is one of Europe’s most heavily visited areas, extending 200 kilometres along the Mediterranean coast. Alicante has attracted the most attention from clients financing their purchases through Conti, with 69% of Costa Blanca buyers choosing this location.
Following the Costa Blanca, Costa del Sol has 23% share of purchases, thanks to miles of beaches, championship golf courses and amenities which attract sun worshippers and sports enthusiasts to its leisurely lifestyle. Marbella is the first choice destination.
The Balearic Islands are next on the list, accounting for 18% of property purchases, with Ibiza standing out as the firm favourite. Meanwhile, the Canary Islands have a 15% share.
Clare Nessling, director at Conti, said: “Following a very tough few years, the Spanish property market is on the up again at last and British investors are rediscovering their love for this beautiful country. Although prices have generally still to come back up to their pre-2008 levels, recent reports suggest that the property market is experiencing a widespread recovery and this is leading to increased confidence among investors.
“Combine this with the growing strength of the pound against the euro, which recently hit a seven and a half year high, and you can see why buyers are returning in their droves.”
According to Spain’s National Statistics Institute (INE), Spanish house prices jumped by 4.2% in the second quarter of this year compared with the previous three month period, strengthening the foundations of the country’s economic recovery.
Year-on-year, the figures represent a 4% increase in property prices, which is the biggest rise since 2007, just before the start of the economic downturn and the subsequent property crash.