Where do the British buy property on the Spanish coast?

Spain is not only a popular destination for Britons. It very often becomes their home or a profitable investment. According to data, as many as 300,000 Britons live there. Spain’s national statistics agency, the Instituto Nacional de Estadistica states that Andalusia and the Valencia region are among the most common areas for UK expats. Just Alicante itself includes as many as 69,000 Britons. Well, it shouldn’t be a surprise. Spain is a very attractive region with beautiful beaches, plenty of tourist attractions and great investment prospects. Read further to find out more about the British in Spain.

The regions the British have ‘’taken over’’

Recent studies show that the British are the most prominent group of foreign buyers in Spain today. They are particularly interested in the region of Andalusia, Murcia and Valencia. Alicante is still the province with the most purchases by Britons. In 2018 alone the sales in Alicante amounted to 3,028. In addition, the entire Costa Blanca region is very popular among British expats. Read on and choose the area that meets your needs best.

Benidorm

According to the most recent data, the British expat population in Benidorm amounts to 6,000 (8,7%). This region is very attractive to British investors, since it provides great transport connections, which is especially important for people travelling from one country to another. In addition, Benidorm is known as a party city with many bars, pubs, restaurants and shops. It is also worth mentioning the more peaceful places e.g. the beautiful, sandy beaches. Moreover, it is a city well-adjusted to seniors. The infrastructure allows people to sightsee and relax in peace. Therefore, it is frequently chosen as a retirement destination.

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Torrevieja

Torrevieja is a former fishing village with as many as 13,000 Britons. It is a city located near Alicante and Murcia airports. It is known for 20 kilometres of coastline and salt lakes with flamingos. It is an absolute melting pot with a large population of German, Russian and Scandinavian expats. Therefore, if you enjoy spending time in multicultural cities and meeting people of different origin, then this one is for you.

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Orihuela

Wondering where else to the British tend to live or buy property? The town of Orihuela is home to ca. 20,000 Britons. It is mainly due to very affordable properties and its attractive area. Orihuela is known for its Blue Flag beaches, which are perectly adjusted to families with children and many golf courses. There is something for everyone, whether you enjoy relaxing in peace or prefer a more active rest.

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Javea

Do you enjoy walking through charming streets and tasting delicious cuisine? Or maybe you prefer laying on the beach and sightseeing the tourist centre? Javea is a town, which is home to almost 8,000 British expats. Cobblestone streets and great weather conditions are only one of many advantages of this area.

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Taxes and their impact on the property sector

According to recent data, the Brits, who own property in Spain may be obliged to pay a 5% higher tax. As European Union citizens the tax amounts to 19%. However, it is likely to increase to 24%. However, keep in mind that this information is still to be confirmed.

The payment is obligatory every quarter. The British have worried about various aspects of living in Spain after Brexit, but there is no need to. It is crucial to remember that the high return on investment will still generate a large amount of profit, even in the event of tax rise. Considering all the advantages of the Spanish coast, it is still one of the most attractive areas for a property investment. It is worth remembering that almost 14% of sales to foreigners are made by the British – mostly in the region of Costa Blanca and Costa del Sol.

Are you still not sure where to buy property? Contact one of our agents and let us help you. We will take you through the entire process step by step and advise you in case of any problems or inconsistencies.