According to data recently published by the Statistical Information Centre of Notaries in Spain, Brits are STILL in the lead which is comes to the number of foreign buyers active in the Spanish property market in 2017.
Property sales in Spain ground to a halt in 2008 as both Spanish nationals and international buyers reduced their level of activity in the Spanish property marketplace following the onset of the economic crisis in Spain.
However, more than 500.000 Spanish property transactions were recorded in 2017, an increase of around 17% from the previous year. Of those transactions, foreign buyers accounted for almost 20%, a year-on-year increase of more than 14%.
Despite showing a decrease in the number of property purchases made by Brits in the first quarter of 2017, the number of transactions by Brits picked up in the second quarter resulting in the British maintaining the top spot as the most active of all buyers within the European Union (EU) with 14% of the property transactions recorded. They were followed by the French (8.6%), Germans (8.2%), Romanians (6.9%), Belgians (6%), and the Swedish (5.3%).
Outside of the European Union, the Moroccans, the Chinese, and the Russians recorded a good percentage of property transactions with 5.5% (an increase of 36% from 2016), 4.9%, and 3% respectively.
There was also more activity from Ecuadorians (33% increase from 2016), Romanians (31% increase from 2016), Portugese (30% increase from 2016), and Americans (27% increase from 2016).
The Valencian Community is the most popular with foreign buyers of property in Spain with 28% of the total number of property transactions. Andalusia takes second place with 18% or property transactions and Catalonia, despite the political instability of recent months, takes third position with 15% of sales.
Image: Stunning luxurious villa with eight bedrooms on 5000m2 plot for sale in Algorfa from Spanish property experts, Spanish Riviera Homes.
The post Brits STILL lead the way as most active buyers of Spanish property according to the Statistical Information Center of Notaries in Spain appeared first on Property for Sale and Rent in Spain – Spanish property for sale and rent.
This is very promising for home owners in Spain. While Brexit may be effecting the strength of the pound, it just proves that the property market in Spain continues to draw those that can afford a second home to buy here instead of anywhere else in Europe.