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Increase number of foreigners who buy property in Spain

Increase number of foreigners who buy property in Spain

 The decrease in prices and improving the country's image abroad are the factors of the increase in foreigners who decided to buy property in Spain in 2012. The statistics, which draws on data from the General Council of Notaries, specifies that their figures refer to the number of citizens of this condition, ie foreigners and non-residents who buy property, "so that the numbers do not count the houses but the owners.In fact, the same person may have acquired more than one property, "explained sources of this organism.

Thus, in 2012 a total of 38,312 non-resident foreigners bought property in Spain, representing an increase of 28.4% compared to 2011 and is almost equated with sales of 2007, the first year of the time series that produced the notaries and last before the crisis erupted. So were 41,787 foreigners who chose to buy property in Spain.

The detail that makes the statistic based on the location of the property to check which destinations have been in the past six years among the favorites of foreigners who choose Spain for a second residence and which territories lost integers. Murcia and Andalusia are the two regions where more falls the number of buyers, while Catalonia last year recorded more than twice as buyers who had in 2007. The Valencia also below the levels recorded before the crisis and, surprisingly Madrid managed to attract in 2012-204 nonresident aliens who decided to buy housing in the region, when in 2007 they did just 68.

Nationalities and prices

For countries of origin have also been changes regarding what happened in the past. For the first time, the Russians have become the second volume homebuyers, surpassed only by the British. The figures show that there are now more numerous Russians buying property in Spain that the French, traditionally the second largest market. In addition, Norwegian and Belgian outperformed Germans and Italians were other foreigners who used to buy more homes throughout the Mediterranean and, in particular, in both archipelagos. In fact, Italy falls in this classification, no doubt affected by the severe recession ravaging its economy, and we are citizens of countries such as Algeria, those who choose to invest in the Spanish market.

"The price cut was key, but so is the adoption of new planning rules that seem to banish the specter of demolition of houses on the beach. These two factors, combined with the fact that now seems ruled the global bailout of the Spanish economy, is what has encouraged the purchase of real estate this year, "he explained in an estate on the Costa del Sol

In prices, figures reveal how the situation has been changing market. While in early 2008 the average price reaching grazing operations reached 320,000 euros, last year did not exceed 230,000, while it was detected a significant rise in December. However, of all acquisitions closed last year, 42% closed at a price above the 160,000 euros that the government has set a limit beyond which plans to grant a residence permit to foreigners who buy homes in Spain.