Spain Property News

Home Purchases by Foreign Residents in Spain up 13%

Home Purchases by Foreign Residents in Spain up 13%
According to recent data published by the Ministry of Development, between January and September 2013, foreign residents in Spain carried out private housing real estate transactions amounting to 4,741.6 million euros, which is an increase of 13% over the same period of 2012 (4,192.9 million euros).

Second-hand housing accounted for the largest portion of this figure, with expenditure of 4,057.6 million euros in the first nine months of the year, up 14.5% over the previous year, while transactions on new homes totalled 683.9 million euros, representing an increase of 5.3%.
In terms of regional distribution, El Mundo reported that the region where most was spent by foreign residents on home purchases was Valencia, with 1,096 million euros, followed by Andalusia (916.1 million euros) and Catalonia (815.9 million euros) .