Foreign Residents housing investment has grown five consecutive years
Housing expenses of foreign residents grew 2,6 in 2014.
Foreign citizens living in Spain increase housing transactions, and more precisely, more than 50% bought a house in the Mediterranean Coast. It looks like foreign residents can’t resist the beautiful beaches and the mild weather of places like Marbella, Benidorm or Salou, just to mention a few, and are decided to buy there their residence facing an everlasting sun.
They trust the real estate market, according to the Ministry of Development, that quantifies in 8,609.5 million euros the total housing transactions spent by foreigners residing in Spain last year. A growth of 26,6% over 2013, when the expense was of 6,801,9 million euros.
It’s important to underline that second hand housing transactions lead the trend, with 7,675.4 million euros, 31,1% more than 2013. At the same time new houses transactions only summed up 934 million euros, decreasing 2,5% over the previous year.
Foreign residents’ invested mostly in the following regions: Andalucia, with a total 1,995.9 million euros, Catalunya, with 1,692.6 million euros and Valencia Area, with 2,052.6 million euros.
These data definitely indicate that Spain is a real attraction for those people who want to dwell in a place where the sun is always shining and Costa del Sol is one of the top selections thanks to its wonderful weather conditions and beautiful beaches. Here at andaluciarealty.com you will find the best properties with astonishing sea views in Costa del Sol.