The sale of homes in Spain purchased by foreign citizens grew well above the average increase of 9.8% that the housing market recorded last year.
69,196 foreigners bought homes in Spain during 2015, up 13%, representing nearly one in five (18%) of all properties bought and sold in Spain last year, according to the Ministry of Public Works.
Of the total number of transactions by foreigners in Spain, non-residents purchased 4,846 properties, 10.1% more than the previous year. Of those resident in Spain, foreigners acquired 64,350 homes last year, resulting in an increase of 13.3% over the previous year.
Overseas buyers and the second-hand market boosted the housing market during the past year, the second consecutive year of growth, reaching its highest level since 2010 with a total of 382,691 homes sold.
Valencia and Andalusia – Leading the way
The autonomous region of Valencia led the way with the most foreign property sales, totaling 20,219 units, of which 1,665 were purchased by non-residents.
In addition, foreigners bought 7,295 homes in the Canary Islands last year, of which 386 were purchased by non-residents and 5,061 homes in Baleares (218 by non-residents). In Madrid, the number of properties purchased by foreigners stood at 4,951 units, of which 79 were bought by foreigners who do not have residence in Spain.
Obviously this is encouraging data to take into account when marketing property, especially when deciding which markets are best for capturing potential buyers, bearing in mind that for decades overseas buyers have targeted Spain as one of the top destinations to invest in property, reason alone to ensure you make the right choice of a property portal that has an overseas, international presence.
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