British lead the way in Expat house purchases
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A report, issued by the Valencian Housing Observatory (OVV) states that one out of every three expat buyers of property in the Valencia Region is British.
32% are purchasers from Britain, 11% Ecuadorian, 7% Romanian, 6% Morrocan and 4.5% Columbian.
Indeed, 15% of ALL property purchases in the region are made by foreign residents., and in the Alicante province alone, 41% of the buyers are British.
Although some experts are stating that problems affecting Northern Rock in the UK could have an international knock-on effect, other experts predict that the Costa market will not be affected.
The Banco de España has assured investors that no institutions in Spain are suffering from the same difficulties as Northern Rock - and has added that the stabilisation of house prices on the Costas could well prove fruitful for UK investors.
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