First evidence that golden visa is attracting non EU buyers to Spain
US, Chinese and Russian buyers were among the most active foreign buyers in Spain in the first quarter of 2014, according to new data from the General Council of Notaries in Spain.
The number of Spanish properties bought by these nationalities increased by 88.9%, 83.1% and 62.6% respectively in the first quarter compared to the same period a year earlier.
Foreign buyers accounted for 19.4% of all Spanish property sales in the first quarter of 2014 and non-residents accounted for 47.9% of these.
The regions seeing the strongest rise in foreign buyers include The Basque Country with an increase of 43.3%, Catalonia up 41.1%), the Balearic Islands up 36.4%, Asturias up 34.8%, Andalucia up 32.5% and the Canary Islands up 23.8%. The number of purchases by foreign buyers in Madrid has also jumped significantly, up by 42.5% year on year.
Foreign property purchases are increasing with British buyers now accounting for 13.8% of all foreign purchases, French buyers account for 10.5%, Russians 8.4%, Germans 7.5% and Belgians 6.9%.
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