Spain properties

The number of private home purchases made by foreigners during 2013 stood at 55,187, which represents 21.4% of all transactions carried out, according to the General Council of Notaries’ statistics published last Thursday.

The Notaries indicated that the total number of transactions made by foreigners has accelerated significantly compared to previous years, rising by 9.8% year-on-year compared to 2012.

In the distribution of transactions carried out by foreigners, those made by non-residents were greatest, with 54%, six points higher than the previous year. The Notaries said that “the behaviour between resident and non-resident foreigners has been mixed.”

While resident foreigners experienced a contraction of 2.3%, non-residents’ transactions increased year-on-year by 22.6%.

With regard to the regions, the Notaries pointed out that the non-resident foreigners continue to favour, more than resident foreigners, the coastal areas, where the majority of holiday homes are located.

El Economista reported that the region to experience the highest growth in private home purchases by foreigners in 2013 was Valencia, with 16.9%, followed by the Canary Islands (+15.7%), Andalusia (+15.6%), Murcia (+15.2%), Catalonia (+7.7%), La Rioja (+4.5%), the Balearic Islands (+3.1%) and Asturias (+0.6%).

The regions registering negative results for the year were: Galicia (-32.5%); Castilla y León (-28.9%); Navarra (-23.4%); Castilla La Mancha (-23%); Aragon (-20.1%); the Basque Country (-14.1%); Madrid (-9.1%); Cantabria (-6.8%) and Extremadura (-2%).

At the end of 2013 the price per square metre of the transactions carried out by foreigners stood at 1,486 euros, which the Notaries say represents a year-on-year decline of 3.8%, and points to a slowdown in their fall.