Spanish Business News

Second homes in Portugal are also being targeted as Britons take advantage of its fragile financial position. Inquiries about homes in Australia and New Zealand fell away the furthest last month. Overall, searches for overseas property increased by 1.2 per cent last month, in comparison to February. A survey by property company Rightmove Overseas and foreign exchange firm Moneycorp found that the Spanish province of Valencia saw the biggest increase in searches for homes – up more than 166 per cent.

Inquiries about property in Costa del Azahar rose by 39.91 per cent, while Costa de Almeria saw a surge of 8.83 per cent. Tom Whale, account manager at Rightmove, said the Costa del Sol, Andalucia and Southern Spain regions remain a firm favourite for British buyers, especially as some properties are now 30 per cent cheaper than in 2007. One seven-bedroom villa with a gym and swimming pool in popular Lliria, Valencia, was on the market for £302,440 three years ago before slumping to £130,619.