Should UK citizens put off buying a property in Spain? Tony Freeman looks at the latest figures from the Spanish property market…

Sales of property in Spain have increased across all regions in the first quarter of 2017 according to data from the National Institute of Statistics (INE). The study shows that the number of sales recorded by the Land Registry rose by more than a quarter, 28 per cent, in March 2017.

The increase in the volume of sales has been particularly noticeable in key cities such as a rise of 58 per cent in Barcelona and an increase of 50 per cent in Valencia, according to a recent market report which Tony Freeman explored.

According to INE, the number of property sales transactions across the whole of Spain during the first two months of 2017 went up by 10 per cent compared to the same period in 2016.

The biggest increases were 23 per cent in Barcelona, a rise of 21 per cent in Girona, up 17 per cent in the Balearics, up 12 per cent in Málaga and a rise of 11 per cent in Madrid. Most indices are also reporting property price increases of between 2.5 per cent and 4.5 per cent across Spain.

The fall in Sterling against the Euro has made investing in Spain a less attractive investment for Brits looking to make a profit in the property market abroad.

Despite the concerns surrounding the fallout from Brexit, Brits are still buying property abroad though they seem to be seeking properties away from the tourist resorts. Many are looking at the large cities where there is more chance of earning a higher return on investment.