The survey, conducted over the last four years, shows that whilst UK buyers are down by 65% over this period, the Germans are up by 3%, the Norwegians by 108% and the Swedes up an incredible 138%. However, the total market is down by 33% from its peak in 2007.
There are many factors that contribute to this trend, the Nordic countries maintain a strong economy. The Swedes, outside of the Euro, have a good exchange rate, something the Brits don’t have at present. And, Spanish property prices have dropped something in the region of between 30% and 40%, allowing buyers from the stronger nations to realise their dreams of owning a property abroad, particularly in Spain.
From the point of view of the LPG, we can report that many of our members have successfully sold property to the Swedish and Norwegian markets over the last two years, especially in Nerja which has proved very popular with Nordic clients.