Almost 13% Of Property Sales In Spain From Overseas Buyers.
Published: 20th May 2016
New figures released by the Property Registrars House Price Index have shown a considerable increase in the number of overseas investors buying a property in Spain. The latest figures showed that foreign buyers accounted for the purchase of approximately 48,000 homes in Spain, representing a year on year increase of over 13%, and approximately 13% of all sales of properties in Spain for the period.
Closer analysis of the report showed that the UK accounted for the highest number of property sales, at approximately 21% of the total amount. German, French and Swedish buyers accounted for almost 7% of all housing transactions. Also on the increase were the numbers of properties purchased by Chinese investors, who now account for almost 4% of total transactions.
The increased level of overseas investors buying property in Spain is widely attributed to the lower prices of properties following the recent economic downturn. Despite the Spanish property market having shown tangible signs of receovery in the past couple of years, prices are still lower than seen at the height of the Spanish real estate market in 2007.