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One in seven properties sold in Spain are bought by a non-resident foreign citizen

 

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Thank you to the call effect from the establishment of the Golden Visa, 10.018 purchase transactions of the 71.533 completed during the second quarter in 2014 were carried out by non-resident investors. According to the details of the Centre of Statistical Information “non-residents have set as the motor of the transactions with a 54.3%”. This percentage refers to the total transaction load carried out by foreign citizens, of which more than have are non-residents.

Since the second term 2012, when only 6.539 purchase transactions were registered, this has increased in a 53.2%. The Golden Visa has also entailed an important boost to attract capitals to our country thanks to the residence permits and free movement within the European territory amongst other benefits.

In the autonomous community, the increase in property purchases has experienced a major increase in the Basque country (+63.2%), Castille-Leon (+40%) and Extremadura (+32.1%). Andalusia is in the fifth position in this list (+19.7%), before Catalonia (+18.7%) and the Canary Islands (+14.4%). The foreign citizens that have carried out the most purchase transactions in Spain have been the British (16.7%), French (10.5%), Russians (7.1%), Germans (6.6%), Belgians (6.1%) and Swedish (5.7%). In their totality, they are more than half of the market.

In regards to the prices, the square metre of the operations carried out has increase a 1.5% standing at 1.548 Euros. According to the General Council of Notaries Public, the evolution of the price per square metre increases towards the stabilization if we compare it with evaluation intra-year has fallen a 0.6 when the price of the square metre acquired by the non-resident purchasers increased a 2.8%.

From the Law Firm of Martinez-Echevarría, Perez y Ferrero we encourage non-resident citizens to benefit from the possibilities that the Golden Visa offers in Spain. The reactivation of the Portuguese Real Estate market is being carried out thanks to the purchase activities that the holders of the golden visa have created by the Portuguese Government. Our Law Firm offers legal advice to non-resident foreign citizens interested in this service, having at your disposal a free consultation telephone and a contact form. In the case that you prefer, you can visit our offices located on the Costa del Sol and also out of Spain.

 

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