Britons are returning to southern Spain to buy property.
Sales of holiday homes in Spain have jumped by 25% this year over 2013, according to Currencies Direct.
Increased sales have been put down to the drop in Spanish house prices, the improved British economy and the persistence of low interest rates which are discouraging saving.
The strength of sterling against the euro has enabled buyers to get more for their money in an already reduced market.
Prices have fallen steadily since Spain’s property bubble burst amidst the global financial crisis, including a 6% fall last year.
The Spanish economy seems to be rallying with productivity and exports rising. This could be adding to investors’ confidence.
And, perhaps surprisingly, the country’s construction industry has witnessed three quarters of growth despite a eurozone average of negative growth.
Nevertheless, it is clear that the eurozone is in a very weak state, with sovereign debts rising, including that of the UK, low inflation which harms job prospects, and other economic malaise across the region.
