Spanish expats step up property sales

Spain's domestic housing market may be sluggish, but Spanish expats are stepping up their investment, according to new figures.

An increasing number of foreign residents bought Spanish property in the second quarter of 2012, revealed the Housing Department. Sales jumped by 12 per cent in the three months to June this year compared to the same period in 2011.

Sales of property in Catalonia led the climb, with transactions increasing by 25 per cent. Indeed, The Valencian Region, home to the desirable hotspot of the Costa Blanca, was the biggest market "by some margin", according to Spanish Property Insight.

The growth, however, is still significantly below the market peak in 2006, with purchased by expats down by 68 per cent. But it is growth nonetheless, showing that for some who live in Spain, even if they are not nationals, Spanish real estate is still an attractive option.

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