Sales of coastal properties in Spain could fall by up to 20% over the next year-and-a-half, as a weaker pound depresses UK demand for holiday homes there, Aura Real Estate Experts estimates.
UK buyers represent the largest group of foreign homebuyers in Spain, accounting for a round a fifth of sales to foreigners last year. In some areas they account for a much larger percentage of sales.
Sales to UK nationals had already slowed noticeably in the months leading up to the referendum, and are now paralysed, one estate agent said.
