Property

Balearics is the most popular for foreign home buying

Majorca Daily Bulletin reporterPalma02/10/2015 00:00
TW
0

The Balearic Islands led the way in the second quarter for foreign home purchases. The Balearics accounted for 33.5% of all purchases in the region, followed by the Canaries with 27.5% and Valencia (including the Alicante province therefore) on 25.7%.
According to the Spanish Association of Property Registrars, 12.5% of all home buying over the first half of 2015 was that of foreign purchasers.

As a consequence of this high level of activity, the association has issued a guide aimed at ensuring legal certainty and confidence among buyers. It has been produced in English, reflecting the fact that British buyers are dominating the market.

Of other regions of Spain, the percentage of foreign buying ranged between 12% and 15% in Andalusia, Catalonia and Murcia, while in Madrid it was under 5%. Other regions showed low levels of foreign purchase activity, with only Aragon (4.5%) being of any particular significance.

Foreign demand had actually fallen slightly in the first quarter (at 12.2%), but picked up in the second to 12.82%, thus giving the 12.5% figure.

Also in News

Big price increase.

Spain at boiling point over eggs!

Protest for the right to housing in Palma, Mallorca

Now there's a proposal for a fifteen-year residency requirement to buy a home in the Balearics

The Hampshire II, off Palmanova. Photos: Joan Llado.

Sir Jim Ratcliffe's $150 million super yacht is reunited with Mallorca

A Good Friday. Britain's biggest cruise ship heads for Palma for Easter

Most viewed
Most Commented