Foreigners’ Investment in Spanish Housing Still Rising

Recent data from the Ministry of Development shows that, in the period from January to September of 2014, real estate transactions for private housing carried out by foreigners resident in Spain, reached a total of 6,077.4 million euros. This amount is 28.4% higher than the figure recorded during the same period of 2013, which was 4,731.7 million euros.

Second hand dwellings accounted for the largest volume of these transactions in the first nine months of last year, with a value of 5,404.4 million euros, representing an increase of 33.4% over the previous year, while the transactions for new housing totalled 672.9 million euros, slightly below the figure registered for the same period the year before (680.3 million euros).

With regard to the distribution of the transactions, El Mundo reported that the region which registered the greatest value in home purchases by foreign residents was Valencia, with 1,506.8 million euros, of which almost 1,284 million euros related to transactions in Alicante, followed by Andalucía (1,429 million euros) and Catalonia (1,175 million euros).