Spain Property News

Foreign buyers crucial to property market recovery in Spain

by Ray Clancy on April 9, 2013

Bargin prices of Spanish property are proving attractive to investors

Foreign buyers crucial to property market recovery in Spain

Foreign buyers are crucial to any housing recovery in Spain, with the latest figures showing that they now make up 12% of the Spanish real estate market. According to an analysis of the latest figures from the Department of Housing by Mark Stucklin of Spanish Property Insight, the data is important as it is based on figures from the Notaires Association which are regarded as being more accurate than those from other sources.

He believes the figures are crucial because they separate buyers into Spanish residents, expat residents, and non-residents who, by definition, are buying second homes. ‘In the light of the new worldwide asset reporting requirements for residents of Spain, I wanted to clarify how important foreigners are these days to the Spanish property market,’ he explained. ‘Already 12% of the market, this is back at pre-crisis levels, so foreign buyers are growing fast in number, and could be critical to Spain’s moribund property market,’ he added. [click to continue…]

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