The Germans overtook the British as the second-home buyers
In the article published by Marc Stücklin on October 1st, 2023 he describes the development of property purchases in Spain compared between German and British citizens.
Although these statistics refer to the whole of Spain, we see a similar development in Sotogrande. We do not have the official data from local notaries and can therefore only rely on our own sales statistics.
“At Noll Sotogrande we will record twice as many property viewings with German citizens in 2023 compared to 2019 before the pandemic.”
Before 2019, the international field of European real estate prospects was not as extensive as it appears now. Even though British visitors are still very well represented in Sotogrande, the international field of French, Swedes, Dutch, Belgians, Poles, Ukrainians and Czechs has become very spread out during our visits. And what is remarkable is the increase in interested parties who already own a property in Marbella and who are now moving to Sotogrande.
foreign-fnr-nationality-uk-de-q2-2023 © Mark Stücklin
The Germans’ budget for their (holiday) property has now increased significantly in Sotogrande. For the British, the size of the property is of crucial importance, while Germans place more emphasis on construction quality.
Sotogrande is equipped for both nationalities and everyone else with its diverse range of real estate. We at Noll Sotogrande welcome all nationalities. We speak German, English, Spanish and French.
Click here to see the original article in English by Spanish Property Insight >>
Although the British market is doing better in 2023, the German market is outperforming the Spanish market!
In the chart above we see the development since 2007 of British buyers in relation to German buyers in Spain (registered by the Spanish Notary Association). Until 2019, the British were always in the lead when buying property in Spain, in some cases there were twice as many buyers from the UK than from Germany. Now, since the pandemic, there are more and more Germans buying property in sunny Spain.
This development concerns in particular the number of Germans who use their Spanish properties as their main residence, in contrast to the British who have acquired more second homes / holiday properties. This is certainly related to the difficulty that since Brexit, Britons can no longer enjoy unlimited residence permits.
FNR second home buyers Expat buyers
As second home owners, however, the British are undefeated in first place among foreign nationalities. The British are thus clearly the biggest sun worshippers!
If you would also like information about Sotogrande and its properties, we would be very happy to help you.
Yours, Stephanie Noll.
Email: stephanie@noll-sotogrande.com
Noll Sotogrande Immobilien
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