Valencia: Why did so many foreigners buy in Spain during 2014

2014 was a good year for sales with numbers increasing 21.6%  year-on-year to 365,342 according to the Ministry of Public Works. The Ministry’s statistics showed that sales to foreigners made up a record 16.7% of all purchases for the year, equating to 61,062 property purchases by foreigners in 2014.

While this record share of the market can be explained in part by the fact that overall transactions are well down in comparison with the years during the boom, it is still an important statistic and one which proves that Spain’s enduring popularity with foreigners is as strong as ever.

The reasons for the high level of foreign purchases are in general terms, the same as ever, with the weather, lifestyle, proximity, healthcare and culture providing the main attractions. There are also factors which have come into play as a result of the crisis: great choice due to high levels of stock, hugely discounted prices and the decrease in the cost of living in Spain.

Buyers from abroad have been encouraged by the improving global economic conditions and, more specifically, those in Spain as well as the fact that prices appear to have bottomed out in the majority of the country’s prime tourist areas and that the amount of high quality stock in these locations is dwindling as investors snap it up.

The Spanish property developer TMR  has recently released a report on what it sees as being the principal reasons for which foreigners buy in Spain. The developer’s study looked at the specific reasons which motivate buyers from four important foreign markets to invest in Spanish property.

For more details get in touch with our office:  www.villasvalencia.com or villasvalencia@terra.complaya

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Villas Valencia offers properties in Valencia at Spanish prices. What`s more, we don`t charge the buyer (as most other agencies do). We are an English locally run estate agent company dealing with properties in a picturesque area around the city of Valencia.

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