Spaniards own €1.38 billion of property in the UK

The tide hasn’t turned – Brits are still far and away the largest group of foreign property owners in Spain – but new data from Spain’s tax authorities has showed that the love affair is not ALL one way, with Spaniards owning €1.38 billion in UK property…

According to information gleaned from Spain’s Form 720 – which is used by Spaniards to declare assets outside of Spanish territory when they value more than €50,000 – Spanish citizens own a total of €9.2 billion in overseas property.

The most popular country for Spanish homeowners is actually France, where Spaniards own €1.73 billion in property, with the UK not far behind in second place. The third-most popular location is Germany, where bricks and mortar assets owned by Spanish citizens amount to €728 million, with both Mexico and Portugal in joint-fourth place on €682.3 million.

The data relates to Spaniards who have retained residence in Spain, and does not take into account properties and homes owned by Spanish expats.

Other leading destinations that have caught Spaniards’ eyes and loosened their purse strings include Andorra (€627.4 million), Belgium (€458 million), the USA (€374 million), Switzerland (€354.6 million) and Italy (€309 million).