Despite all the economic doom and gloom of the past few years, it seems that Brits are still willing to spend their cash escaping the UK for some time in the Spanish sun.
Research carried out by Taylor Wimpey Espana has found that the number of Spanish units sold from January to April 2012 was up 21 per cent as compared to the same period in 2011, with Brits being the biggest buyers.
But it's not only the property market benefitting from investment from the UK - as British tourists were also found to be the biggest contributors to tourist expenditure in March 2012, shelling out a total of €631 million, which was a ten per cent increase on the same month in 2011.
Marc Pritchard, sales and marketing manager of Taylor Wimpey Espana said that he was unsurprised that Brits were continuing to splash their cash in Spain since the country has always been a top choice for tourists, as well as being one of the most reliable and established markets for buying second homes.
"Indeed, the pound is now at its strongest against the euro in nearly two years reaching an exchange rate of £1:€1.20 meaning that British families have more money to spend," he added.
However, before taking the plunge and investing in a second home overseas there are numerous considerations that Brits need to take into account such as opting for the correct level holiday home insurance and choosing the right sort of property if they are intending to rent.
Liz Rowlinson, editor at A Place in the Sun Magazine, emphasises that it is vital to do your research in terms of location and expected income when investing in property abroad.
"You have to be very precise about why you are investing, realistically what your capital appreciation is going to be and about the rental returns," she says.