Some 13.01% of all of the home purchases carried out in Spain in 2014 were made by foreigners, more than the figure registered in 2013, when they accounted for 11.15% of all transactions, according to the latest data from the College of Registrars. In fact, this 13.01% figure for transactions carried out by foreigners last year represents a new year-on-year record and accumulates five consecutive years of growth.
British buyers were once again the major investors, with 16.72% of all the home purchases made by foreigners, followed by the French, with 10.27%, and the Russians, with 7.47%. Completing the top ten of idealista.com’s ranking are the German buyers, in fourth place with 7.34% of the housing transactions, followed by the Belgians (6.90%), Swedes (5.97%), Italians (4.73%), Norwegians (3.98%) Chinese (3.67%) and Romanians (2.66%).
Kyero.com’s latest enquiry report shows a different mix of nationalities, but still with British buyers in the majority at 51% of all foreign interest in Spanish property.
According to the College of Registrars, the strengthening in demand for housing by foreigners demonstrates their great confidence in the Spanish housing market, and that they consider Spain as not only an attractive tourist destination, as it has traditionally been, but also an opportunity, as a result of the attractive price levels of recent years.
The organisation predicts that the high level of demand by foreigners will be maintained for the next several quarters. The majority of the foreign buyers come from the eurozone, so in relative terms, the drop in the value of the euro does not affect them as they use the same currency. However, the Registrars pointed out that the nationalities whose countries’ currencies have benefited from the change in the value of the euro could see this as an additional incentive to purchase property in Spain, which could lead to an even greater increase in the already outstanding current figures.