The foreign buyer is one of the most important profiles of the Spanish residential real estate sector. His predilection for our country translates into a level of transactions that contributes to the dynamism of the housing market. The nationality that always leads to foreign operations is British. According to the College of Registrars, the British were behind 13.31% of total real estate purchases from foreigners in the second quarter of 2019. This percentage is the lowest in the historical series. In this post, we detail some of the consequences that could occur from producing a hard Brexit....continue reading "Consequences of a hard Brexit in the Spanish real estate market"
Over the last year, foreigners bought more houses in Spain than ever before. In particular, international investors adquired about 48.000 houses, an increase more than 13% of total sales. ...continue reading "Foreigners buy more houses in Spain"
Foreign demand has continued to boost the Malaga province property market. Last year, it recorded a 28 per cent increase in real estate sales to non-Spaniards, according to figures released by the Ministry of Public Works.
Of the 23,929 properties that were sold in the province in 2014, 9,190 were bought by foreigners, representing 38 per cent.
The sale of houses to foreign buyers has almost doubled in the past two years: from 5,140 in 2012 to 9,000 last year.
The good news is that last year purchases by Spaniards also rose by 29 per cent. But what is in “bad shape”, according to the president of the Association of Constructors and Developers, José Prados, is the demand for first homes.
...continue reading "Russian demand for properties in Spain has gone down"
More foreign buyers are buying property in Spain but the traditional purchasers from the UK are in decline, according to new data from property lawyers.
Foreign purchasers accounted for 21.4% of all Spanish residential sales or 55,187 transactions in 2013 and it also highlights the areas that are popular with overseas buyers.
A breakdown by nationality showed the number of homes purchased by British buyers accounted for 14.7% of foreign purchases compared to 34.3% prior to the financial crisis in 2007.
Instead, French, Russian, German and Belgian buyers increased in number in 2013, rising by 10.9%, 8.2%, 7.8% and 6.9% respectively.
...continue reading "More Foreign Buyers in Spain but Less Brits"
Spain's property market is showing more green shoots of recovery, with the country's House Price Index reporting the smallest decline in prices since the end of 2010, according to the National Institute of Statistics.
House prices still fell overall - but Majorca bucks the trend, reporting property price rises of 4.8 per cent in the third quarter of last year, compared with the same period of 2012, according to the Spanish development ministry.
Three other regions reported prices rises in the House Price Index - Navarra, with growth of 2.8 per cent, Extremadura, up 2.2 per cent and Madrid, up 0.3 per cent. However, these figures fall far short of Majorca's growth, which estate agents say is boosted by foreign buyers, particularly those with a substantial sum to spend.
...continue reading "Balearics Property Market Grow Thanks to Foreign Buyers"