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Leading Property Group Spain > Blog > Property News > Brits lead the way in the Spanish Property Market

Brits lead the way in the Spanish Property Market

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In 2013, 11.15% of all property sales in Spain were made by foreign buyers, according to the official property registrar. The British were once again the main investors, with 15% of all purchases made from abroad. The French with 10%, and the Russians with 8.6%, ranked second and third respectively in property acquisitions. Of interest, were buyers from Luxembourg who hadn’t previously figured in the list in 2012. Here is the ranking of the top foreign buyers during 2013:

In general, the first eight places were much the same as the previous year – of the most active nationalities, but there was a change of positions between Belgian and Germany. Britain led the results with 15.1 % of purchases, followed by the French (9.84 %), Russians (8.58%), Belgians (7.26 %), Germans (7.01%), Swedish (5.63%), Norwegians (5.27 %) and Italians (3.65 %). Luxembourg joined as new investors and accounted for 1.46 % of the total. Also, the Poles crept into the ranking with 0.94 % of all homes sold.

According to the official property registrar, the Spanish property market is now viewed as an opportunity. The intensity in the reduction of property prices, as compared to economies less affected by the crisis than the Spanish, means that “the prices at which you can currently buy property in Spain represent a good opportunity.” They also note that in relative terms, of the nationalities that head the ranking for demand in Spain, buying a property is now particularly accessible. “You only have to take a look at the table to confirm this fact,” he adds.

The foreign buyer is looking primarily for a second home for their holidays, because they have a comparatively higher purchasing power than that of a Spanish citizen. The organisation remembers that during certain years of the upward cycle (2003-2006) the top positions were occupied by nationalities from a fundamentally working background, i.e. nationalities that came to seek work in Spain and decided to buy a home. At that time the first spots were occupied by Ecuadorians, Romanians, and Moroccans. Currently some of these nationalities have disappeared from the top twenty and others have fallen significantly in the rankings.

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One comment on “Brits lead the way in the Spanish Property Market

  1. La tendencia sigue siendo la misma en el segundo trimestre 2014…

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