It’s the largest increase since 2008. Falling house prices in Spain have been undoubtedly the main reason for this positive turnaround. Prices have dropped between 25 and 30 percent since 2007.
Foreigners invested 4.748 million Euros in buying property in Spain in 2011, 27 percent more than the previous year.
This represents the largest increase since 2008, while that of the Spanish investment abroad decreased by 23.4 percent in the same period.
According to the Bank of Spain, the Spanish foreign investment in real estate, which has increased for the second consecutive year, did not exceed EUR 4,000 million for three years and experienced a steep climb from the “boom” years in housing.
However, this amount remains far from the figures reached in 2007 or 2008, when it surpassed the 5,300 million.
To improve the image of the Spanish property market, the previous government launched last year a “road show” for different countries to capture the interest of international investors.