The latest Spanish data for property sales to foreign buyers shows UK nationals lead the way.
In the third quarter (Q3) of the year, a total of 119,000 properties were sold in Spain, representing an increase of 15.6% on the same period last year, according to Spain’s registrars.
Around 12.9% (15,300) of total property sales in Q3 were to non-Spaniards, with the UK once again accounting for the largest proportion of the foreign market; a total of 14.8% of all foreign property purchases were by UK nationals, representing around 25 property transactions per day throughout the quarter.
Seven nationalities accounted for more than half of all property sales to non-Spaniards in Spain during Q3. The UK led the way, followed by France with 8.5%, Germany (7.8%), Sweden (5.9%), Belgium (5.7%) and Italy and Romania both accounting for 5.6%.
There were 20,885 new home sales in Q3, accounting for 17.5% of the market share and representing a rise of 4.1% from Q2 and an 18.8% rise on Q3 of 2016. Demand for new properties in Spain has been gradually increasing following an upturn in the second-hand property market; housing stock left over from the property boom years has been decreasing, giving rise to demand for new housing projects across the country.
The twelve monthly running figures show a total of 445,725 residential property transactions took place in Spain, the highest total since 2011, reports newspaper Murcia Today.<< Brexit has not Deterred Brits From Moving to Spain