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March 2015

Foreign Property Buyers Flocking To Spain

Published: Tuesday 31 March 2015

Overseas buyers accounted for a record 61,000 property purchases made in Spain last year, new figures show. According to research carried out by property developers TM Real Estate Group, foreign buyers accounted for 16.7 per cent of all property purchases carried out in the country in 2014, with Brits the largest group of overseas buyers. The TM Real Estate Group’s research shows that Spain’s climate, low property prices, the availability of quick and cheap flights to the country, and the fact Spain is reputed to have a decent healthcare system, are the main reasons the country is so popular with British buyers. Purchasers from France, Germany and Belgium are the next largest group of overseas buyers who bought homes in Spain last year. Meanwhile, separate figures released by the Ministry of Development shows that over 365,000 property transactions were completed in Spain last year, with the amount spent by people buying property totalling more than 46,996 million euros – 23.4 per cent more than in 2013. This represented the first increase in purchasing activity in more than three years. The figures showed that Alicante had the highest proportion of property sales made to non-Spanish residents (52 per cent), followed by Malaga (38 per cent), the Balearic Islands and the Canary Islands (both 36 per cent), Girona (35 per cent) and Murcia (21 per cent).