Russians have bought 4.5 thousand houses in Spain

Russians have bought 4.5 thousand houses in Spain

Spanish notaries report that in 2013 foreigners have bought 55.2 thousand properties, which is 21.4% of the total number of sales. Russians bought 4.5 thousand houses and apartments, writes ee24.com citing noticia.ru.

Number of foreigners buying property in Spain has increased by 9.8%. Colombians and Argentines have made by 311% and 98% more purchases, respectively. Chinese citizens bought by 77% more properties. Russians are not even in the top ten (11%), because of their strong and stable position on the Spanish market.

Valencia (+17%), the Canary Islands and Andalusia (+16%) and Murcia (+15%) gained popularity. In contrast, interest to Galicia (-33%), Castile and Leon (-29%) and Navarra (-24%) has decreased. It is noteworthy that foreigners buy more expensive housing than Spaniards do: the average transaction price was €1,486 per sq.m.

Information from notaries does not coincide with the data of registradores. According to the latter one, foreigners have bought 36.2 thousand residential properties last year, 3.2 thousand of which were acquired by the Russians.