Purchases of property by foreigners increase in the second quarter of 2019

Purchases of property by foreigners increase in the second quarter and exceed 16,000 units sold

SOURCE: Real Estate and Construction Observatory

Purchases of property by foreigners increase in the second quarter and exceed 16,000 units sold

Purchases of property by foreigners increase in the second quarter and exceed 16,000 units sold

Purchases by foreigners accounted for 12.5% ​​of the total sales in the second quarter, compared to 12.3% recorded in the previous quarter. This percentage in units sold represents more than 16,000 purchases, figures close to the maximum in recent years, according to the Real Estate Registry Statistics.

Regarding the last twelve months, foreign demand has symbolized 12.4%, which confirms it as “a very favorable factor in the dynamics of the residential real estate market in Spain”.

By nationalities, in relative terms, the British continue to lead with 13.31% of foreign purchases. However, this data is the lowest in the historical series and thus represents the progressive decline in British demand in the Spanish residential market. In absolute terms, they made 2,140 purchases in the second quarter compared to 2,200 in the previous one.

The second position is occupied by French with 7.62% of purchases by foreigners, while in the first quarter it was 7.56%. In absolute terms they have registered 1,225 home purchases in the second quarter of the year, slightly above the 1,200 in the first quarter.

Third, there are Germans with 7.30% of purchases by foreigners, above 6.89% in the previous quarter, with 1,174 home purchases.

After these first three nationalities are Moroccans with 6.48%, Romanians with 6.09%, Belgians with 5.89%, Italians with 5.29% and Swedes with 4.46%.

By autonomous communities, purchases of foreigners maintain the leadership in the Balearic and Canary Islands, where foreigners buy 27.49% and 26.57%, respectively.

On the other hand, the provincial results ratify the leadership of Alicante, with a 41.81% purchase of housing by foreigners. It is followed by Tenerife with 28.91% and Malaga with 27.9%.