Spain continues to be top choice for Britons buying property abroad, according to Conti, the overseas mortgage specialist. The country accounted for just under half (45%) of enquiries received by the company in the second quarter of 2015, consolidating its performance in the first quarter of the year and signalling a strong comeback from its recent economic problems. The overall number of mortgage enquiries was up by 8% compared with the same period in 2014.

France, in second place, accounted for almost a third (31%) of enquiries, followed by Portugal with 18%. Investment in all three countries has been buoyed by the growing strength of the pound against the euro, which recently hit a seven and a half year high and is chopping thousands of pounds off property prices. A €200,000 holiday home now costs £142,857 compared with £158,228 a year ago, a saving of £15,371 on currency rates alone.

Prices in some of the most desirable areas of Spain have fallen by up to 50% since 2007, but the market appears to be on the path to recovery. According to Eurostat, the statistical office of the European Union, prices in Spain were up by 1.6% year-on-year during the first quarter of this year.