Spanish property bounces back for first time since boom years

BuyAssociation – 09.03.2018

Foreign demand for property in Spain saw a major surge in the fourth quarter of 2017, led by British buyers returning to the market who appear undeterred by the prospect of Brexit.

Spain was the European property hotspot for overseas buyers looking for second homes, as well as relocation, back in the heyday before the financial crisis, after which buyer numbers plummeted significantly as the knock-on effects were felt across the world.

However, the latest figures from the Spanish Registrar’s Association show that Spain’s property market rose back to 2007 levels in the final quarter of 2017, with a 19.8% rise in home sales while foreign demand rose to 15,266 registered purchases – a 20.4% annual increase from Q4 2016. House prices in the country increased by 7.6% in the same period, and foreign purchases made up 13.6% of the total Spanish housing market.

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