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Outsiders buying homes in the Valencian Region support 11,000 jobs, says the regional government minister in charge of housing, Isabel Bonig. (She is also in charge of infrastructure, territory and the environment – no conflicts of interest there 🙄 )
“For the Consell, the purchase of homes in the Valencian Community by citizens from the rest of Spain and Europe is a key factor for stimulating productive activity and employment, and our administration supports and promotes business initiatives that help to improve our commercial balance and create employment,” she was quoted as saying.
She was visiting the Residencial Aqua Natura new development by Grupo Mahersol in Torrevieja, with 183 homes targeted mainly at foreign buyers, and reportedly almost sold out.
“[The business of] Sales of homes to foreigners is capable of maintaining between 7,000 and 11,000 jobs in the Valencian Community. On top of the purchase you have to add the increase in consumer goods that comes with ever new home, and one has to remember that foreign buyers are important consumers of products of all kinds during their stay in the Community. Furthermore, it opens up an important market for the construction sector, which has been badly hit by the crisis, through the possibility of refurbishments.” That’s what she said.
As far as she is concerned: “The excellent conditions of the Valencian Community in general, and Alicante in particular, allow us to offer real estate product with maximum garanties for residential tourism.”
Para Bonig, “las excelentes condiciones de la Comunidad Valenciana en general y de la provincia de Alicante en particular permiten ofrecer un producto inmobiliario con las máximas garantías para el turismo residencial”.
Figures she provided: Last year 4,300 Madrileños bought a home in the region: 50pc in Alicante, 20pc in Castellon, and 30pc in Valencia.
Home sales for foreigners last year generated 1.6 billion Euros for the region. Foreigners were the buyers in 29pc of all transactions in the region last year, up 32pc on 2011. Alicante was most popular with 81pc of foreign sales, followed by 13.4pc in Valencia and 5.3pc in Castellón.
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Notice how much more non residents have been paying for property. Maybe now they’ll be a bit nicer to the expats and other nationalities funding their property system?
ps, have you seen that Spain has spent over 200 million on agricultural subsidies for ‘farming’ on the blooming bull fighting industry. Shame on them. At least three Spanish politicians have highlighted how wrong it is.
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