Buyers from abroad are returning to the Spanish housing market, attracted by economic growth that’s beating most of Europe and signs that prices are bottoming out after years of declines. Britons are the biggest investors as near-zero interest on U.K. savings accounts and rising residential prices make it less attractive to keep money at home.
Non-Spaniards spent 6.05 billion euros on Spanish property in the first nine months of last year, up 30 percent from the same period in 2013, according to data from the country’s Ministry of Public Works. The 40,338 dwellings purchased represent a 27 percent increase from the same period a year earlier, led by Comunidad Valenciana, Andalucía and Cataluña, the data showed.
Foreign and domestic homebuying in Spain evaporated when the economy collapsed during the financial crisis, leading to an international ...continue reading "Foreing buyers returning to the Spanish housing market"