SPANISH PROPERTY FIGURES SUGGEST INCREASE IN NUMBER OF FOREIGN BUYERS

The number of foreign Spanish property buyers is increasing accoring to new research figures.

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Spain saw a 28.4 per cent increase in foreign buyers of Spanish property in 2012 which suggests that foreign interest in Spanish real estate is back to pre-recession levels. 38,312 non-residents bought properties in Spain last year – similar levels to 2007. Brits still top the table but are closely followed by Russians who are now the second largest buying group for the first time.

INE figures released last month revealed a 3 per cent reduction in the total number of property transactions carried out in Spain in 2012, but the most recent data from the General Council of Notaries has demonstrated a 28.4 per cent increase in the number of foreign and non-resident buyers of Spanish property.

Property prices are continuing to decline, particularly with the weak EUR/GBP currency pairing but more effort hs being made by regional tourism boards and estate agents to improve the image of the Country.

In 2012, 38,312 non-Spanish residents bought properties in Spain but the real number of properties purchased could be higher as the data only relates to the number of people buying and not the number of properties sold.

Filed under: http://www.theleader.info/article/38221/

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