Spanish Property Purchases by foreigners rise 12 per cent

16 Nov 2012

Spanish property

With the news that Spanish property sales figures for the second quarter are the highest in four years the burning question is why the UK and German press continue to ignore the facts.

Foreign residents in Spain bought 9,502 homes during the second quarter of this year, up 12% from the number of foreign home purchases during the same period in 2011, and the highest figure in four years, when foreigner home purchases peaked at 11,130.

However the International press especially from the UK and Germany continue to print doom and gloom articles about the state of the Spanish property market with some agents in Spain totally baffled by this.

Nick Stuart of Spanish Hot Properties points out  that despite the steady year-on-year growth of home purchases by foreign residents for the fourth consecutive quarter, the number of purchases still trails far behind the figures registered for the second quarter of 2006, when the market was at its peak and there were almost 30,000 foreign home purchases. It must be remembered that, as a result of the present economic climate, the number of foreigners who are registered in Spain has dropped with respect to the number of foreigners who were registered in previous years.  So all in all things are much healthier than some press agendas would have you believe.

When breaking down foreign home purchases by residence of purchaser and location of property, Alicante headed the ranking of provinces with 2,645 purchases. It may not surprise you that in Alicante UK citizens are no longer the number one buyers having been surpassed by buyers from Russia for Costa Blanca property.

The most interesting thing from Spain is whenever the property market returns from the crisis it will not be the same again and there will be many more buyers not just from the UK but from all over the world and the high figure of 30,000 sales to international buyers could easily be surpassed said Nick

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