News: Investors buy 28% of homes sold in Spain

According to a recent study carried out by real estate company Tecnocasa and the University of Barcelona, 28% of the properties sold in Spain in the second half of 2016 were bought by investors, exceeding the 24.65% figure of the previous year.

The study has been based on actual data on completed transactions and not on prices or appraisal.

Although mortgage sales increased over the last six months of 2016 currently accounting for 67.2% of the total, 32.8% of the remaining operations were paid in cash. The percentage of cash purchases is still relevant, hence the importance of the investor in the current real estate market.

The price of property in Spain and property in Costa Blanca has fallen by 51.56% since 2006. At the end of 2006 the price per square meter was over 3,500 euros, whereas it now stands at 1,690 euros per square metre.

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