Foreigners living in Spain increased their investment in Spanish property by 13.7 per cent last year, according to new figures released by Spain’s Ministry of Development.

Data released recently suggest that foreign residents in Spain completed property transactions on private homes amounting to 6,336 million euros in 2012. This is an increase of nearly 14% from the 5,573.3 million euros spent in 2011.

National Spanish Press reported that Spain’s second-hand housing market saw the biggest volume, with 5,265 million euros in 2012, an increase of 15.6 per cent on 2011 volumes.

The number of new house transactions for 2012 amounted to 1,070 million euros for the whole year, an increase of 4.8 per cent on the previous year.

According to the Ministry of Development, Spain’s foreign residents bought nearly half (47 per cent) more homes in the last three months of 2012 compared to 2011, with 13,873 private homes bought by foreign residents from October to December 2012.

This is a trend which has now been seen for six consecutive quarters, with Alicante, Malaga, Barcelona, the Balearic Islands and Madrid being the most popular places for foreigners to buy property in Spain.

Filed under: http://www.theleader.info/article/38471/

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