Let’s analyse the Second Home purchases by Chinese in Spain
How active are Chinese? What properties do they like? What are the most loved Spanish regions by Chinese? How much do they pay? Do they prefer new build properties or resale? Do they need a mortgage for financing?
Both foreigners and Spaniards are very active on the property market in Spain. In 2018, foreigners bought close to 100.000 properties in Spain. Spaniards and Foreigners are buying the highest number of properties in 2018 vs any year since the crisis of 2008, have a look at our chart: more than 570.000 properties were bought, 16% of the purchases by foreigners.
Read our most recent article about that: Who are the foreigners buying real estate in Spain?
How active are Chinese on the Spanish Real estate market? How much do they pay for their properties?
According to the “Consejo General del Notariado” in Spain, Chinese are buying 13 properties per day, or about 4.700 for the last 12 months up to June 2018, in Spain. It is nearly 4 times more than in 2008. The price they pay on average is €1.596 per square meter. They pay just a little bit more than other foreigners buying properties in Spain. Check the evolution over the last 12 years.
What are the most loved Spanish regions by Chinese?
Chinese love to buy in the two biggest Spanish Cities: Madrid and Barcelona. A reason for that, of course, most of Chinese buy their main home and not a Second Home. So they are in Spain for work and not for pleasure.
Where are foreigners buying in Spain? In which Regions, in Which Cities?
Foreigners are actively buying properties in many Spanish cities: for Alicante, Tenerife, Ibiza and Palma de Mallorca, Malaga and Girona, they represent more than one transaction out of 4.
Here are the most active regions
Here are the most active cities
If you want to read more on the subject: Which are the top 10 Spanish cities where foreigners are buying properties?
What properties do they like?
Most Chinese, 1 out of 3 buy properties between 60 and 80 square meters. It is nearly the same statistic for the surfaces between 80 and 100 meters.
Do Chinese prefer Spanish new build properties or resale?
17% of Chinese go for a new build property, 83% for a resale
Do Chinese take a mortgage for their Second Home?
36% of the property purchases done by Chinese in Spain are done with a mortgage. For the transactions with a mortgage, the mortgage size is 109.000 EUR.
Download our pdf report: What are the ideal Spanish properties for Chinese? Where do they buy? How much do they pay?