Foreign buyers have bigger budgets than locals, show figures from the Housing Department.
Foreigners buying property in Spain in Q4 2013 spent 12pc more on average than locals buying in the same period, according to data at the Housing Department website, part of the Ministry of Public works (Fomento).
Foreigners spent an average of €153,300 on property purchases, whilst Spaniards spent an average of €135,000. Foreigners tend to buy in more expensive locations like the coast, and cities like Barcelona.
In both cases buyers spent less than 12 months previously: foreign buyers spent 2.5pc less, and local buyers 6pc less, as Spanish property prices declined another year.
Foreigners bought a total of 14,800 homes in Spain in Q4, down 1.3pc compared to the same quarter a year before.
Foreigners spent an average of €261,000 per property in the Balearics, and €214,000 in Malaga province, home to the Costa del Sol.
According to the Housing Department’s figures, average Spanish property prices fell just 4.2pc in 2013. Other data and news suggests the fall was closer to 10pc.