Costa Blanca Property Purchases Down in the Third Quarter

The number of homes on the Costa Blanca sold to British buyers has fallen since last June’s Brexit vote and the fall in the value of the pound. House sales to UK nationals between July and September of this year have seen significant falls, after steady rises over the previous six years, according to industry experts and official figures.

British buyers are the largest foreign group of property purchasers on the Costa Blanca at 26 percent, with a similar figure for the Murcia region. Speaking to the Guardian newspaper, Mark Stucklin of the Second-Home and Resort Industry Observatory said: – “We have carried out a survey of the sector and it appears that house purchases by Brits on the Costa del Sol and the Costa Blanca have fallen by around 50 percent since the referendum.”

Stucklin said that the British-buying market had always closely mirrored the fluctuation in the pound-to-euro exchange rate, with the pound currently down around 18 percent compared with the end of 2015.

“While demand from other countries such as Germany, Belgium, Sweden and France is growing, in the short term it’s not enough to make up for the lost British buyers,” added Stucklin.