In the second quarter (Q2) of 2018, a total of 17,338 properties in Spain were purchased by a non-Spaniard, representing a rise of 11%, according to the latest report by the Association of Spanish Land Registrars.
In Q2, a total of 134,196 properties were sold across the country, compared with 119,408 units the previous quarter and 128,990 units in Q2 of 2017.
The Spanish property recovery is being supported by a rise in both foreign and local demand; in Q2, growth in local demand overtook the foreign market, rising by 12.6%. Q2 figures for the past five years show that foreign purchases have accounted for 13% of the market share, a slight increase from the 11% in Q2 2013.
British buyers were once again the largest group of foreign buyers in Q2 2018, making up 15% of the foreign market with 2,590 property purchases – almost double the number of sales by the second largest foreign group, France (1,315) and Germany (1,221).
Although the French are still buying Spanish property, sales were down 8%, while sales to Irish buyers rose by 47%, reports property expert Mark Stucklin at Spanish Property Insight. Despite uncertainties, Brexit has not deterred British buyers from purchasing Spanish property – they have dominated the foreign market for the past five years.
Information sourced from: Spanish Property Insight