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News: The British Give Spanish Housing Market A 20% Boost

24 Feb 2016 Back
The British Give Spanish Housing Market A 20% Boost

With larger loans and lower interest rates being offered by the Spanish banks, this has in turn given the Spanish property market a large boost, mortgages registered on house purchases in January this year where up to 20,900 showing an ever increasing amount of almost 20% in the same month of the past year 2015 this indicates that credit is becoming more freely available with some banks offer mortgages up to 70-80% of the value of the property which is helping to boost the Spanish property market.

The Spanish Registrars Association have revealed new buying figures that have been revealed last week. The results showed that British buyers account for more than a fifth of all the property sales in Spain by non-nationals in the past quarter of the previous year.

Records show that in last 3 months of 2015, 12,000 property sales were made by non-Spanish buyers which in turn represents over 14% of the complete Spanish market which saw over 84,000 property sales in the last quarter of 2015. This is the highest percentage of reported sales since the economic crisis and reveals the extent of the recovery in regions buy oversea investors.

Figures according to registrars from the UK represent 23.95% of sale with an increase that has grown by 3.45% this means that for every 29 sales in the Spanish market one was sold to a British buyer.

Other overseas buyers are as follows the next were the French at 8.18% of total sales, followed by the Germans 7.80% of total sale, the Swedish came in at 6%, then the Belgians at 5.68% and finally the Italians with sale of 4.20%, the other buyer to be included in the top ten of all sales are the Chinese, Norwegians, Russians, and finally the Romanians.

Going back to last year figures foreign buyers made up 13.20% of the Spanish housing market and yes the British were still the biggest buyers showing our true love for the Spanish lifestyle or just looking for that newstart on the Costas. Spanish investors from overseas bought over 46,000 properties in Spain last year which shows the ever increasing market in the recovery of the Spanish property sector. Prices have increased in the Spanish property market by 6.6% according to registry statistics and local real estate agents. The number of home sales have increased by 11.2% compared with 2014 as a total of 354,538 of total transactions.

So if you are thinking of buying here in Spain now is a very good time for that NEWSTART before the prices go up too high, Stop dreaming and start living.

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