After a long period of stagnation of the market, the Spanish real estate market is gradually recovering. The most actively this trend is felt on the traditionally popular destination - Costa Blanca. The increasing number of home sales in the second quarter of this year amounted to 14.7% compared to the same period last year.
The increase comes from the "inside" - that is, despite the long-term trend, it isn’t provided by foreigners but by locals. The Spaniards have acquired 21% of housing in the region than in the previous year, with the highest score in Torrevieja. It is noteworthy that Torrevieja ranked sixth in the country in the number of real estate transactions, second only to Madrid, Barcelona, Valencia, Zaragoza and Seville.
Foreign trail
12.7% of real estate transactions in the country since the beginning of the year were committed by foreigners. The most popular among foreign investors regions are Balearic Islands (33%), Canary Islands (27.5%) and the province of Valencia (27.5%). Followed by Murcia, Andalucia and Catalonia - from 12% to 15%. Madrid - 4.7% of transactions. Overall, the number of real estate transactions committed by foreigners increased by 42 000.
The British is the undisputed leader in the demand for Spanish property - 19.8%. 8.1% of the French, Germans 7.6%, 6.4% of Belgians, Swedes 5.5%, 5.3% of Italians. The number of Russian buyers has fallen - in 2012 - 2013 years their share was up 9%, and now - less than 4%.
Elite real estate
As for the market of elite housing (pricing more than €1 mln.) in Spain, in this segment, 90% of buyers are foreigners.
If previously the most frequent buyers of luxury real estate were the Swiss and the French, now (after the crisis of 2008), the main buyers are the citizens of Eastern Europe, the United States and Asian countries (China and the Arab countries).
According to the materials of espanarusa.com
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