News: Foreign real estate buyers surge in Spain

According to the Ministry of Public Works' data, foreign demand for Spanish property keeps on growing as the purchase of homes by foreigners accounted for 13.2% of the total units sold in Spain in 2016. This is the highest figure in the last decade, and it is expected that this percentage will be surpassed in 2017 with records being broken by the end of the year.

If this trend is maintained, 2017 will be the eighth consecutive year of growth in the foreign buyer's activity in Spain.

Overseas buyers were involved in 53,500 sales of property in Spain last year, with British buyers being the dominant group (19%) followed by the French (8%), German (7.5%), Swedish (6.5%), Belgian (6%) and Italian(5.5%).

The greater part of the investment value had to do with second hand housing. The Costa Blanca was one of the areas which registered the greatest levels of housing investment by foreign residents.

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