No 610
Tel: 96 673 0057
Monday 21st March 2016
FOREIGNERS According to the Land Registry, property sales in the Murcia Region are up by 26.8% for December, January and February when compared to the previous years figures. This news comes as welcome relief to homeowners who were unlucky enough to buy at the height of the real estate boom and paid top dollar for their properties. Whilst the prices have a long way to reach the dizzy heights of 2009 at least the market in general is moving and prices are steadily increasing. According to the National Institute of Statistics foreign investment is responsible for keeping the market buoyant with 1 in every 5 properties sold being to a non-Spanish national buyer. During 2015 foreigners bought 69.196 homes in Spain, some 15% more than in 2014.
BOOST
Tel: 676 820 588
Issue 322
HOUSING MARKET
Foreigners who do not reside in Spain bought 4.846 properties and non-Spanish nationals who have residency permits in Spain purchased 64,350 homes. The statistics show that non-nationals are far more likely to buy pre owned homes than new builds or off
plan, a trend that has changed substantially over the past few years. During 2004 to 2010, 79% of foreigners who bought property in Spain bought either off plan or new build properties. Following the onset of the crisis and various real estate scandals involving new developments that either have never been built or the builder went bankrupt, the trend changed to buying pre owned homes that many saw as a safer investment. Valencia still leads the way for foreign investment but Murcia is slowly gaining ground with an increase in sales of 17%.