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March 24, 2014

Who are the most popular buyers of Spanish property

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Who are the most popular buyers of Spanish property

21% bought property in Spain in 2013 was sold to foreign nationals, residents and non-residents in Spain. Non-residents of Spain bought in total 54 % of total real estate, which is 6% more than in 2012 . Foreign citizens – residents of Spain acquired in 2013 by 2.3 % less real estate than a year earlier. Among nationalities who choose Spain to buy first or second residence , are leading the UK citizens with 14.9% of the total number of sales transactions and 11.7% more than in 2012, the French  with 10.9% , the Russians with 8.2%, the Germans with 7.8% and Belgians from 6.9% of the total number of sales transactions in 2013.

The interest of foreign buyers to the Spanish property increases every year, as demonstrated by the statistics. According to official data of the General Council of Notaries of Spain , foreign buyers purchased in 2013 55,187 objects of Spanish property , which is 9.8 % more than in 2012 . More oft was bought property in Spain by foreign non-resident citizens of the country, namely 54% of the total number of transactions for 2013 , representing a 22.6% increase from a year earlier . Thus, foreign nationals are currently the main Spanish property buyer , thereby putting money into the local economy , and national demand for houses and apartments continues to decline. At the same time the acquisition of real estate by foreign nationals resident in the country decreased by 2.3% in 2013.

In choosing a geographic location for the purchase of real estate by foreign citizens, non-residents of Spain, also is given the clear trend. For example, much of the future owners of Spanish property select the Mediterranean coast. Valencia Community in this case is the absolute leader with an increase in the proportion of 16.9% of the total number of foreigners bought a property in Spain . Followed by the Canary Islands (+15.6 %) , Murcia (+15.2 %) , Catalonia (+7.7 %) , La Rioja ( +4.5 %) and the Balearic Islands (+3.1 %) .

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