Foreign Investors´ Demand For Over-€500.000 Homes Soared Up 21% in Q2

1/08/2014 – Finanzas

According to real estate portal, demand for dwellings which cost half a million Euros or more has surged by 21% in the second quarter of 2014. The boost has been driven by so-called “Golden Visas“: permanent residence permits automatically granted by the Spanish government to property buyers who arrive at the country with EUR 500.000 or more intended for a home purchase.

The investors willing to settle down in Spain mostly target properties in Madrid, Catalonia, Andalusia, the Balearic Islands, the Basque Country and the Valencian Community.

As per statistics, in 2013, foreign buyers spent on a Spanish house an average of 381.860 Euros. More expensive dwellings were purchased by Russians (€678.424), followed by Germans (€338.716), Belgians (€346.728), Britons (€190.633) and the French (€171.644).

The most desired region in Spain is the Alicante coast, particularly popular among the British and the Russian.

Original article: Finanzas (after Europa Press)
Translation: AURA REE

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