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Brits Still Top Property Buyers In Spain

Brits Still Top Property Buyers In Spain

In 2017 Brits are still the leading source of foreign buyers purchasing property in Spain according to the Statistical Information Centre of Notaries in Spain.

Following the economic crisis in Spain international buyers significantly reduced their property purchases in Spain. This slump in the property market has however turned around with more than 500,000 Spanish property transactions taking place in 2017, an increase of 17% from the previous year. Foreign buyers as per the report account for near 20% of year on year growth of plus 14%. 

 

Although property purchases made by Brits in the first quarter of 2017 show a decrease in transactions, the second quarter reflects an upturn and places Brits as the leaders in active purchases within the European Union to purchase property leading with 14% of transactions. Then followed by the French 8.6%, Germans 8.2%, Romanians 6.9%, Belgians 6%, and Swedish with 5.3%. 

 

Of non European countries; Moroccans, Chinese, and Russians are also noted with property transactions with 5.5% (an increase of 36% from 2016), 4.9%, and 3% respectively. Property purchasing actively is rising by Ecuadorians (33% increase from 2016), Romanians (31% increase from 2016), Portuguese (30% increase from 2016), and Americans (27% increase from 2016), respectively. 

 

The most popular areas in Spain with foreign buyers are the Valencia region (28%), Andalusia (18%), and Catalonia (15%). 

 

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