Poll reveals Spanish property worries

 

A poll by overseas property website Homesgofast.com found the number one concern for overseas buyers considering buying real estate in Spain were fears over planning regulations.

The survey targeted people that had enquired about buying a property in Spain over the last 12 months and received 1024 replies. 63% of respondents were located the UK. The results showed that second largest concern from buyers related to the decline in the Spanish property market and house values. The survey also uncovered a fear amongst international buyers concerning fraud and being victim of a scam.

Homesgofast.com initiated the survey to find the mood of UK buyers considering buying a property in Spain.

The poll asked "what was the number one concern when considering buying a property in Spain"

Survey results:

36% - Planning permission issues.

23% - Spanish property market / decline in house values.

19% - Fear of being subject to scam/fraud.

14% - Currency exchange fluctuation uncertainty.

8 % - Other.

Nicholas Marr CEO Homesgofast.com" We anticipated that worries over the recession and house price falls in Spain would have been the top reason why people had not bought real estate in Spain. The actions of the Spanish authorities bulldozing houses bought in good faith have had a huge effect on overseas buyers".

In recent news around 800 British and Irish residents marched in Almeria after demolition orders were issued for eight expat-owned homes in the nearby town of Albox. The owners are appealing but it is feared many more homes are under threat after Spanish regional authorities' overruled planning permission. It is said that thousands of Britons have bought Spanish properties in good faith, only to find they were illegally built on protected land.

Placards at the expat demonstration read 'We've done nothing wrong' Maura Hillen, president of AUAN, a pressure group demanding an end to the insecurity of the Spanish property market, said: 'All eight of the affected home owners did everything required of them by Spanish law to ensure their properties were legal.