Foreigners buy one out of every six properties sold in Spain.
Foreigners find the Spanish real estate market appealing. The transactions carried out by foreigners residing in Spain experienced an annual growth of 28,4% in the second quarter of the year, with a total of 12.546 sales, according to the official figures of the Ministry of Infrastructure. There have been two consecutive years of increases.
The sales carried out by non-resident foreigners reached 1.086 in that quarter which means a growth for the eighth month in a row.
A record has been broken with these figures: foreigners are buying 16,9% of all properties sold in Spain. That is, one out of every six houses, for the first time in history.
The foreign investment in properties grew by 17,8% last year and 16,4% in the first quarter of 2013. (…)
In general, the statistics on real estate transactions carried out before a notary public show that in the second quarter of 2013 80.722 homes were sold in Spain, a decrease of 4,2% when compared to the second quarter of 2012.
In the last twelve months (July 2012-June 2013), the total number of purchases reached 345.471, which means an increase opposite to the 2,3% of the previous 12 months, although this may not be seen as “green sprouts”, as the end of the tax benefits increased the sales at the end of 2012.
But between April and June there were five autonomous regions where transactions increased. (…)
“There have been greater increases in those regions linked to tourism and to recreational homes. Opportunities are being taken, mainly in second hand properties, as the tax regime is more favorable”, Manuel Gandarias, Director of Studies at pisos.com, points out. ”Although figures are far away from those marvelous years, they are improving thanks to the drive of profiles with solvency, such as foreigners and investors, Gandarias adds.