Foreign Investment in Spanish Property Surged In First 9 Months of 2014

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Foreigners resident in Spain bought property worth €6,077.4 million between January and September 2014, according to data from the Spanish Ministry of Public Works. This amount is 28.4 per cent higher than the €4,731.7 million registered during the same period in 2013.

Resale property accounted for the highest volume of sales with a total of €5,404.4 million during the first nine months of the year, 33.4 per cent more than the previous year.

Transactions involving new-build property totalled €672.9 million, slightly lower than the year before (€680.3 million).

As far as location goes, the region where foreign residents spent the highest amount was the Community of Valencia with €5,404.4 million, of which almost €1,284 million was spent in Alicante province. Next were Andalusia with €1,429 million and Catalonia with €1,175 million.

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SPI News Feed provides general news about the Spanish property market and related articles translated from the Spanish press. For more in depth news, analysis, and opinion, see Mark Stücklin's blog.

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