European House Buying Shows No Sign of Slowing Down

New data recently released shows a steady rise in interest in buying property in Europe in the 12 months since Brexit, reports Abode2 luxury property magazine.

Kyero, which has over 820,000 European properties listed on its site, making it the largest overseas property portal in the UK, saw a 45% increase in visitors searching for property in 2021 compared to 2020.

Enquiries are up in all four of the key European markets (Spain, Portugal, France and Italy) during Q4 2021 compared to the same period in 2020. In Spain, property enquiries  were up 28% year-on-year in Q4 compared to 2020, while in Portugal they are up 48%.

The data, taken from the Q4 edition of the Kyero European Property Market Tracker shows that far from putting people off, the possible red tape and issues caused by Brexit are not hampering people looking for a new life in the sunshine. The Brexit trade deal has now been in place for a year, coming into effect on 1st January 2021 and marking the end of the Brexit transition period.

Despite Brexit making it slightly more complicated to move to Europe, it doesn’t seem to be having any long-term impact on the appetite for overseas buyers looking for homes in the sun. In fact, Brexit may even be a driver for some Brits looking to move to Europe in order to maintain the feeling of being European rather than British  post-Brexit, and securing easier access to the rest of the continent.

In addition the impacts of Covid-19 are still at play. Free from the office, many more people can now live and work from anywhere, with lots choosing to do so from Spain, Portugal, France or Italy rather than the UK.

Spain remains the most popular location for Brits to move to in Europe. Average property prices have remained static in Spain over the last quarter at €292,000.