Spanish Property Sales Soar Purchased by European / Global Investors
Similar pattern emerging in Spain as we saw in the US especially in the Florida market. Other places in Europe and USA are also still a bargain, although universal price rise as Investors and Second Home Owners buy up Properties still on the up turn.
In Spain, property transactions by non-resident foreigners rose 43 percent in Q2 compared to the same period last year according to the General Council of Notaries.
Non residents bought 8030 homes in Q2 of last year. The biggest increases came from Belgians, up 78pc, French (+70pc), Germans (+35pc) and the British (25pc).
As reported previously demand from British buyers is down from in 2007 boom time high where Brits accounted for 39pc of the total market. The share is now just 15pc but it’s still the biggest group, followed by the French (11c), Russians (9pc), Germans (8pc) and Belgians (8pc).