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Property purchases in Spain recorded a strong growth in 2016

14 Feb
2017

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Transaction growth of 13.5% and 2.4% rise in prices in 2016

According to General Council of Notaries in Spain: “Property purchases recorded a growth of 13.5% to 460 000 units and a 2.4% rise in prices to a median price of € 1,309 per square meter”.

 

Mortgage loans

The number of mortgage loans granted showed throughout the year an expansion of 7.1% and the average amount thereof was € 163,253, representing an increase of 5.1%.

The percentage of purchases with mortgage financing increased to 44.5% and, in such cases, the percentage of housing financed via mortgage was 77.2%.

 

Foreigners take 17% of the market

The number of properties purchased was strong both by Spaniards and foreigners. As you see on our chart: properties purchased by foreigners represented 17% of all transactions.

Foreigners vs Spaniards buying real estate in Spain, History of transactions

Why foreigners love to buy a second home in Spain?

A few good reasons are: low real estate prices, low mortgage financing costs, strong economic growth in addition to the usual suspects: Sun, beaches,…

Have a look at this post to know more on why foreigners are buying in Spain.

We produced a quick infographic on why you should buy a second home in Spain.

Why should you buy a second home in Spain? Infographic

Do you want to know more on where are the foreigners buying? Check our latest full report.

 

Please find the full press release here.

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