The foreigners who buy houses in Spain, the way of the record

Published on July 25th 2017

Barcelona gains appeal for the landing of multinationals and becomes fashionable as a second home destination even for buyers from other continents.

The purchase of homes by foreigners accounted for 13.2% of the total units sold in Spain in 2016, the highest figure in the last decade, and it is expected that this percentage will be surpassed in 2017 and reach its record Historical at the end of the year.

Regarding the place of origin of the buyer, of the 53,500 homes acquired by foreigners in 2016, the British top the ranking. They are followed by French (8%), German (7.6%), Swedish (6.7%), Belgian (6%) and Italian (5.4%).

The decline in British demand in favor of other countries leads to a greater diversification of nationalities, which, coupled with prices still very attractive to the foreign buyer, provides greater confidence in the evolution of demand.

The Slav buyers, mainly Russians, who are opting for housing in areas of Alicante like Benidorm or Denia and on the Catalan coast in enclaves such as Castelldefels or Tarragona, as well as buying in the Balearic and Canary Islands, are bursting hard in the Spanish market. Which reports that it has detected an emerging interest of Chinese citizens, who are testing the Spanish coast market.

The capital of Catalonia is a separate case, since the leading role of foreign buyers has increased significantly. The attractiveness of the Barcelona residential market for foreigners in both buying and renting is due to several factors. One of them is the landing of international companies that have opted for the Spanish city to the detriment of other places like London or Paris, whose prices of housing are more expensive. Professional investors are the other leg on which supports the good moment of Barcelona. And lastly second-home buyers.

 

Source: Invertia

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