Seven out of ten properties sold to foreigners in Andalucía are located in Málaga province

The Costa del Sol is still the number one choice in Andalucía by a long way when it comes to attracting foreign property buyers.

mijas-malagaBetween January and July this year, there were 4,978 registered real estate transactions to non-Spanish purchasers in Malaga province, an increase of 16.9% on the same period in 2015.

According to official Spanish government data, this accounts for 70% of the residential properties sold to foreigners throughout the whole of Andalucía.

On a regional level, the number of properties bought by foreigners in Andalucía increased by 18.9% in the first six months of this year. The 5,973 transactions in the same period in 2015 rose to 7,105 sales in 2016.

Over 90% of homes bought by foreigners in Andalucía are resales of existing flats or houses rather than new builds. However, included in this figure are properties that have been bought by banks from developers with difficulties and then sold on to private buyers, without the properties ever having been lived in.

House purchases or sales by foreigners increased in the first six months of the year in all provinces of Andalucía.

In Almeria, there were 797 sales, 33.7% more than a year ago; Granada, with 409 transactions, grew 13.9%; while Cádiz registered 405, an increase of 4.6%. There was also growth in Seville province, with 262 operations, 47.1% more than last year; in Huelva, with 126 operations and an increase of 23.5%; Jaén, with 79 and a growth of 49% and Córdoba with 49 transactions, 16.6% more than in the first six months of 2015.

Of the 7,105 contracts exchanged with foreign buyers, only 1.5% involved subsidised housing.

 

 

Via: surinenglish.com

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