All that the Foreigners Spend in Buying House in Spain

Most of the houses bought in 2013 by foreigners was in tourist destinations of coast. Especially, in the provinces of Alicante with 3.400 transactions, in and Malaga, with 1.900. Later Barcelona and Balearics place with more than 1.000 assessed operations and, to many distance there appears Madrid, which is the fifth one with 750. In total, the foreigners comrparon in the fourth quarter 14.800 housings, what there supposes a decrease of 1,3 % with regard to more than 15.000 real estate of 2012. Opposite to the set of the market, which formidable 30 % contracted, these numbers suppose 17 % and 11 % of all the operations, respectively

The real-estate Spanish market continues in crisis six years after the snap of the bubble. Inside this barren panorama, the foreigners have supposed one of the few ones good news for a sector ballasted by the restriction of the credit and the fall of the revenues of the families. To verify how, how much and where his purchases realize this group, the Department of Promotion has published this Tuesday his particular statistics on transactions corresponding to the fourth quarter of 2013 and, according to this information, the houses that they acquire are 12 % more expensive than that go on to hands of the Spanish.

Of average, the real estate that the foreigners buy costs approximately 153.300 Euros, opposite to 135.300 Euros that the Spanish pay. With regard to the same quarter of 2012, the disbursement lowers 2,5 % between the first ones, whereas for the natives one reduces more than 6 %, an evolution that is on line with the setback of prices that gather other statistics. In case of the department that Ana Pastor directs, the decrease of 2013 is 4,2 %. Other actors of the market, as Tinsa, raise this number to 9,2 %.

As for the price, where the foreigners spend more to buy a residence it is in Balearics and Malaga, which they are the only zones in which the average price overcomes 200.000 Euros together with Gipúzkoa. In I make concrete, the average disbursement was 260.640 Euros, 214.300 and 277.400 Euros, though in the latter province scarcely 34 houses were bought in the fourth quarter, with what the information is not representative.

David Lorenzo-Spanish Lawyer UK                                        
Spanish Law | Birchall Blackburn         



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