The number of transactions with foreigners in Spain grew up by 11.9% and counted 18,466 agreements in Q2 2014 in an annual basis. That's roughly 20% of the total transactions number in the Spanish property market, meaning that every fifth transaction was with made by overseas customers, informs the ee24.com with reference to the Spanish media.
Non-residents were active, as always, on the Spanish resorts – 79.2% of all sales transactions with foreigners were signed up by the sea, namely in Valencia (5,661 transactions), Andalusia (3,827), Catalonia (3,085) and the Canary Islands (2,052).
Market analysts say that demand for Spanish housing has seriously increased among the residents of Ireland (increase in the number of transactions by 70.4% per year), the USA (51.4%), China (45%), the UK (42.5%) and Italy (32.4%). Average price of Spanish real estate, purchased by foreigners is €1,548 per a "square."
Residents of which countries are purchasing property in Spain?
1 The United Kingdom – 16.7% of all transactions
2 Countries outside the EU – 12.4%
3 France – 10.5%
4 Russia – 7.1%
5 Germany – 6.6%
Source: General Council of Notaries of Spain (General Council of Notaries), elmundo.es