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August 2017

Overseas buyers spend record level on Spain property

Published: Tuesday 15 August 2017

By David Fuller 
Overseas buyers spent more than 888 Million Euros on Spanish property in the first half of this year, new figures show.

This is the highest ever half-year figure recorded, and smashes the 330 Million Euros spent by overseas buyers in the same period of 2016.

“A decade on from the crisis and Spain’s property market is not only back on its feet but thriving,” said Marc Pritchard from estate agency Taylor Wimpey España. “The appeal of owning a second property in Spain, be it to enjoy holidays with friends and family or to relocate, has endured. I have no doubt the country will welcome another record year of international investment.”
According to Pritchard, Taylor Wimpey España alone welcomed purchasers from 15 different countries in the first six months of 2017. German, Scandinavian, British and Russian buyers were most active in this period.

In addition to foreign investment in property, the first half of 2017 has also been a record breaker for Spain's tourism industry. The Spanish National Statistics Institute reports that 36.3 million tourists visited the country between January and June – a 12 percent rise compared to the same period in 2016. 
The majority of those who visited (8.6 million) came from the UK, while 5.5 million were from Germany; a 9.1 percent and 10 percent rise over the same period last year respectively.

Interestingly, there has been an 8.5 percent increase in foreign tourists using non-market accommodation. This suggests that more and more tourists are staying either at their very own Spanish property or one belonging to an acquaintance of private owner.

Find out more about buying property in Spain and the steps it takes to move to Spain in our free guide.”

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