The province of Alicante leads the sales of properties made by foreigners
In the second quarter of the year 2012, the Valencian community led the sales of properties made by foreigners in Spain, with a total of 3.114. Most of these operations (2.645) were made in the province of Alicante. Foreign residents made 9.502 operations during the second quarter, representing an increase of 12% compared to the same period of year 2011. This is also the highest amount since four years ago, when the sales reached 11.130 operations.
One factor that explains the rise in purchases made by foreigners in Spain is the decline in prices of real estates, which in the second quarter fell by 8.3% to 1.6006,4€ per square meter. This equals to the price level of year 2004.
However, these figures are still far from the nearly 30.000 which were registered, for example, in the same period in 2006.
Most purchases made in the second quarter of the year took place in Valencia (3.114), Andalusia (1.676), Catalonia (1.615) and the Canary (1173). The lowest numbers of operations were registered in Cantabria (15), Ceuta and Melilla (16) and Extremadura (18).
When examined the purchases by the province of the residence of the buyer and the location of the property, Alicante led the statistics with 2.645 operations. It was followed by Malaga (1.127), Barcelona (847), Tenerife (655), Baleares (536), Las Palmas (518) and Madrid (522). On the opposite side stood Avila (2), Ceuta, (3) and Palencia (4).
The investments made by foreign citizens when buying a property in Spain during the first three months of the year 2012 rose 2.5%, to 1.163 million euros. The latest data from the Bank of Spain shows that this amount is the biggest since the second quarter of 2011.
Original article: Diario Informacion 16.9.2012