British buyers may be airing on the side of caution when it comes to buying a property in Spain before Brexit, but they are still buying nearly twice as much property than other foreign nationalities, new reports shows.
Monthly Archives:: September 2019
Residential property sales rose in July and are currently on par with last year as the market starts to show signs of stabilisation. A total of 47,890 property sale during the month of July, representing a rise of 3.8% on the same month last year, according to the government’s central statistics unit.
Some of Spain’s largest banks are waiting for the European Court of Justice (ECJ) to rule on whether they have charged customers too much for their mortgages – a ruling which could potentially lead to compensation for thousands of mortgage holders.
Existing variable rate mortgage loan holders will see a reduction in their monthly repayments. The Euribor – the rate in which most Spanish mortgage interest is calculated – has plummeted to new lows over the past couple of months, making variable rate mortgages even more appealing for home owners.