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A crisis in Spain, But good for foreigners who want to buy

Posted on by peteradmin247

investmentinproperty That is the way at least 9,200 foreigners who bought holiday homes on the Costa Blanca last year see it.

Buyers were led by Russians, Britons and Norwegians, who made up 80pc of the market. This is a sign the foreign market is starting to recover, albeit slowly.

José Vicente Dómine, Director General of Public Works for the Generalitat (Valencian regional government), was quick to point out that more foreigners bought homes on the Costa Blanca last year that in Madrid and Andalusia combined, and almost as much as Catalonia, the Balearics, and Murcia combined.

According to Dómine’s figures, obtained from Spain’s notaries, home sales to foreigners last year by key region were as follows: Catalonia – Costa Brava / Dorada 5,200; Malaga – Costa del Sol 4,600; Balearics 2,700, and Murcia 1,500.

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