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November 16, 2015

Purchases of property by foreign citizens in Spain

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Purchases of property by foreign citizens in Spain

Purchases of houses and apartments by foreign nationals in Spain rose in the third quarter of this year, up to 13.52% of the total, and exceeded the number of 12,000 transactions between July and September 2015, according to the Spanish Association of Registrars. This is the second best result in the history of this index, only behind its value in the fourth quarter of 2014 (13.8%) with the British, the French, the Swedes and the Germans among the main buyers of Spanish real property. Therefore, foreigners reached their second best record in the number of real estate purchases this year.

In addition, this data from the third quarter of this year (13.52%) improved annual (third quarter of 2014, 13.1%) and quarter statistics (the second quarter of 2015, 12.82%), making it the second best result. Availability of external demand for the Spanish real estate market has made a very important contribution to the periods of low total demand. The fact that it is confirmed and even increased during the period of economic recovery is "an important stimulus for the development prospects," – said the registrars.

The citizens of Great Britain remained the main foreign buyers of Spanish property, with 23.12% of all objects bought by citizens not born in Spain, with a clear upward trend as during previous quarters. The stability of the pound against the euro makes it easier for market operations, which focuses mainly in tourist areas of Spain to buy a house or an apartment.

The French, who are in second place among the foreigners who buy properties in Spain, with 8.71% of the total volume with the increase of purchases, although still far from the 11% recorded in the previous periods. The Germans are in third place, but fell to 6.40%, in more than 1% compared to the previous quarter (7.65%) and still falling during the last quarters.

The biggest improvement was recorded in the case of the Swedes, who were placed in fourth place with a share of 6.38% in sales of real estate, and thus surpassed the Germans. The arrival of winter in Sweden is helping these citizens, who mostly move to Spain during the coldest time of year.

On the other hand, the main negative point is a continuation of the drop in the number of Russian citizens who buy properties in Spain since in 2013 they reached the third place in this ranking. During the period from July to September this year, meanwhile, they accounted for only 3.36% of sales to foreigners.

Among the countries outside Europe, meanwhile, the official statistics underline the interest of Chinese citizens (3.98%), citizens of Morocco (2.28%) and of Algeria (1.24%). There is also a percentage of 17.62% of other nationalities, mostly from Arab and South American countries, who have increased their interest in real estate in Spain.

The recorders of real estate transactions in Spain indicate that "there is a clear stability in the profile of the foreign buyer of real estate in Spain. In the coming quarters we expect a continuation of this positive situation, especially in the case of countries with stable currency to the euro, led by the British market".

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