PROPERTY SEARCH

Date Published: 28/12/2022

ARCHIVED - Brits back on top: UK buyers account for most property sales in Spain

ARCHIVED ARTICLE -

British ownership of properties in Spain is the highest of all foreign buyers

<span style='color:#780948'>ARCHIVED</span> - Brits back on top: UK buyers account for most property sales in Spain

Spain has experienced a staggering upswing in the property market in the second half of 2022 and the last third of the year shows that foreign buyers have regained their confidence in the Spanish economy even more, since they accounted for 15.2% of all property sales and purchases.

This is the highest percentage of overseas property buyers seen in Spain in more than a decade.

The vast majority of autonomous communities have registered a sales increase in the last couple of months, but the Balearic Islands and Canary Islands stand out as the most popular destinations with foreigners, accounting for 31.5% and 33.7% of the market, respectively.

These regions are followed by the Valencian Community (28.3%), the Region of Murcia (23.4%) and Andalucia (17.8%).

”These new data only confirm the great moment that the real estate market went through this year. The foreign buyer is very important and the fact that it accumulates nine consecutive months of increases is cause for celebration , especially at times like the present, where volatility and uncertainty are just around the corner”, explained the spokesperson for flats.com, Ferran Font.

Britons were the non-nationals who bought the most houses in Spain between June and September, representing 9.3% of all foreign home buyers, followed by the Germans (8.04%), French (6.21%), Romanians (4.58%), Belgians (4.27%), the Dutch (4.10%) and the Moroccans (4.01%).

Interestingly though, despite a booming quarter, British interest in Spanish properties has actually dwindled in the last few years, with UK buyers dropping from 24% of the total in 2015.

In other news: Relief for shoppers as Spanish government reduces VAT on food

Image: Pixabay

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