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"
Tag: foreign investment
Spain’s housing market continues to show steady signs of recovery
Eight years after Spain’s property market crashed, house sales continue to increase, with a three-year high registered in June as some 36,856 homes changed hands, up 19.5% from the same month in June 2015.
Building on the growth seen in April and May, sales for the first half of 2016 were the best since 2010.
However, growth is largely restricted to five major cities and their surrounding areas: Madrid, Barcelona, Alicante, Malaga and Valencia. Total sales for the first half of the year were 207,593.
Residential construction is partly driven by foreign investment, which is pouring into developments in Madrid and Barcelona; a jump in building permits points to more growth to come. Construction and real estate accounted for more than a third of the nearly €22 billion ($24 billion) of foreign investment in Spain in 2015, Economy Ministry data shows.
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