Growth in demand for homes from foreign buyers
Spain saw the highest level of demand for homes from overseas property buyers at the end of 2017, according to a recent report from the Spanish Land Registrar’s Association. In fact, demand in the last quarter of 2017 increased to over 15,250 property purchases, reaching the same level experienced in the boom years.
As a whole, the increase in demand was a result of a 19.7% increase in Spanish demand and a 20.4% increase in foreign demand, compared with figures from the previous year.
The British dominated the foreign buyers, registering nearly 2,400 purchases in the last quarter of the year. The French and Germans followed with 2,440 purchases combined.
Demand also grew significantly from other nations with the only exception being Switzerland where demand fell by 16%.
The figures indicate that Brexit has not deterred British buyers from purchasing in Spain.
Other developers are reporting a significant growth in the number of Scandinavian buyers purchasing property in Spain, with some claiming that 80% of sales in luxury developments in 2017 were bought by these Northern European nations.
What certainly seems clear is that Spain’s economy is growing and bringing with it a new confidence in the property market and renewed demand from European buyers.
Siesta Homes is promoting 2 beautiful developments along the Costa del Sol for buyers looking to invest in Spain. After great success with similar projects such as the Aloha Hill Club in Marbella, buyers looking to invest in La Cala Hill Club and The Oakhill can expect high quality living and incomparable services. Siesta Homes has a proud philosophy of always offering more and these two development are no exception. For more information about these stylish developments please contact Siesta Homes on +34 951 204 324 or visit the development websites, lacalahillclub.com and oakhillmarbella.com.