Foreign sales up in Spain

The housing purchases by foreign citizens account for 20% of the Spanish market, according to data published by notaries in the first half of 2016. Between January and June totaled 43,519 operations a 161.2% increase over the minimum figures recorded in the second half of 2008, when he reached the 16,658 transactions. This data redials maximum of the historical series on foreigners.

Foreign citizens continue to gain in the market for home sales in Spain. During the first half of 2016 they reached 20.3% of total transactions in the market, with 43,519 transactions. This figure also represents the highest number recorded by the General Council of Notaries in half since 2007 and up 161.2% higher than the lows recorded in the second half of 2008 operations, when foreign citizens just made 16,658 purchases.

British, French and Germans are hogging sales

British buyers (19%), France (8%) and Germany (7.8%) remain foreigners with more weight on total operations during the first half of the year. Over the same period of 2015, free housing purchases by foreigners rose 19.7% yoy.

By region, the purchases by foreigners rose by double digits, except Ceuta and Melilla (-20%) and La Rioja (-4.7%). The most significant increases occurred in Cantabria (71%), Extremadura (50.8%) and Navarra (41.1%). On the other hand, smaller increases compared to January-June 2015 occurred in Andalusia (14.3%), Valencia (16.6%) and Madrid (19.1%).

As the weight of home purchases by foreigners in the total real estate transactions by region, in the Canary Islands account for 44.2% of the total; in Illes Balears, 41.5%, Valencia (37.2%), Murcia (27.7%) and Andalucía (21.4%). By contrast, communities where operations by foreigners had lower weight were in Extremadura (3.1%), Galicia (3.7%), Basque Country (4.4%), Castila and Leon (4, 5%) and Asturias (4.7%).