By Andrew Ede
There may have been a slowdown in the property market generally, but this hasn't affected the leading position of the Balearics for foreign buyers in Spain.
Third-quarter figures from the College of Registrars show that the Balearics ranked number one in terms of foreign purchases - 31.7% of all purchases in the Balearics between July and September. Valencia was second (29.5%), followed by the Canaries (28.2%), Murcia (24.8%), Catalonia (16.4%) and Andalusia (16%).
When treated as a province rather than a region, the Balearics were fourth behind Alicante (43.8%), Santa Cruz de Tenerife (36.6%) and Malaga (35.3%).
Nationally, the British were the largest foreign market with 10.1% of purchases, followed by the Germans (7%) and French (6.7%).
With the Spanish home-buying market having been particularly affected by economic circumstances, foreign buyers in the third quarter represented 15.4% of all purchases in Spain. The director of studies and spokesperson for pisos.com, Ferran Font, says that this was the second highest percentage in the historical series behind 15.9% in the third quarter of 2022. "This demonstrates the great attractiveness that Spanish real estate has for the European market."
This percentage has increased over the past ten years. In the third quarter of 2013 it was 12.2%.
December 14, 2023 at 12:34PM
via Mallorca Daily Bulletin read more...
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