ALMOST A QUARTER OF SPANISH HOME SALES ARE TO FOREIGNERS

ALMOST A QUARTER OF SPANISH HOME SALES ARE TO FOREIGNERS

Some 21.4% of all residential property purchased in Spain in 2013 was by foreign buyers, according to statistics released this week by the council of Notaries. In total, 55,187 homes were purchased last year by foreigners, representing a 9.8% increase on the figure from 2012.

The Valencia region has seen the biggest increase in the number of foreign buyers, with 16.9&, followed by the Canary Islands with 15.7%, Andalucía with 15,6 %, Murcia at 15,2 % and Cataluña with 7,7 %.

In contrast, purchases fell in Galicia by 32.5%, Castilla y León by 28.9%, Navarra by 23.4%, Aragón by 20.1%, The Basque Country by 14.1% and Madrid by 9.1%.

The British are also continuing their decline however, responsible for just 14.9%, a considerable drop from the 34.3% in 2007, but still a sizeable portion of the market. This overall figure is also despite a huge increase in British purchases in November of 12%, compared to 2012.

The French market is still growing in importance, with 10.9% of the purchases made by foreigners, followed by Russians with 8.2%, Germans with 7.8% and buyers from Belgium responsible for 6.9%. Denmark, Sweden and America are still looking positive, and expected to yield bigger increases in shares over the next period.

But the most sizeable increase has been in purchases by non-resident buyers, in particular from Columbia with a 311.1% increase, followed by Argentina with a 97.8% climb. China and Ecuador were also favourable to this sector, increasing by 76.9% and 60% respectively.

Filed under: http://www.theleader.info/article/43078/

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