Non-Spaniards resident in Spain, or expats for short, bought 8,457 homes in Spain during Q1, that’s 5pc more than the same period last year, according to the latest stats from the Housing Department. Expats now account for 15pc of all home purchases in Spain.
BUT, if you compare Q1 2013 with Q4 2012, expat purchases fell by 38pc. So exapts were just as influenced by the end of mortgage tax breaks and rising VAT as Spaniards.
Still, these figures shows that exapts are ever more important to the Spanish property market, which makes it all the more incomprehensible that the Government is discouraging them with new rules like the worldwide asset declaration 😯
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