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Foreigners bought 20% of homes sold in Spain in 2015

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20% of home purchases made in Spain during 2015 was led by foreigners, which shows the weight that this group has been gaining since 2007. Last year, the sale of free houses by foreign amounted to 76,680, which represented an increase of 12.9%, according to data from the General Council of Notaries. The institution ensures that virtually all foreigners who decide to buy a property in Spain choose to go to the notary for the sale in public writing since, although it is not mandatory unless a mortgage is engaged, it gives them veracity and legal certainty .


 

Buyers most weight were the British (20.6%), followed by French (8.8%), Germany (7.5%), Belgium (5.7%), Italian (5.5%) and Romanians (5.3%). Accumulate more than half of sales transactions of housing in Spain. Their purchase options are in Baleares (44%), Canary Islands (39%), Valencia (37%), Murcia (25%) and Andalusia (25%). However, the strongest increases in sales of homes by foreigners were in La Rioja (59.1%), Castilla-La Mancha (57.3%) and Navarra (41.5%). The more discreet occurred in Extremadura (9.8%), Valencia (7.2%) and Catalonia (4.9%).

51.7% of the operations were performed by non-resident foreigners. Still, the sale of foreign residents increased by 18.2%, higher than that experienced by non-resident foreign buyers, which stood at 8.4% rate.


 

The average price per square meter of transactions by foreigners stood at 1.598 euros, representing an increase of 2.9%. The evolution of the price per square meter seems to indicate a stabilization from the first half of 2013. Although there are nuances depending on the residence. In 2015, the average price per square meter for foreign non-residents increased by 5.6%, standing at 1,792 euros, while the price of free homes purchased by foreign residents fell by 0.1%, reaching the 1,367 euros.

Courtesy of tucasa.com