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    Published on: 30/04/2015 13:06:00

    13% of Homes Sold Last Year to Foreign Buyers

     13% of Homes Sold Last Year to Foreign Buyers | Ella Investment Property

    By region, the greatest volume of home sales transactions by foreign buyers were registered in the Balearic Islands (32.6%), the Canary Islands (27.4%) and Valencia (27.1%), while the regions with the least number of foreign transactions were Extremadura (0.47%), Galicia (0.56%) and Castilla y León (1.21%).

    Purchases of homes of 500,000 Euros or more, by which owners can obtain a residence permit, accounted for 5.2% of the total home purchases made by foreigners last year, compared with 4.7% in 2013.

    Of those transactions, 55.1% were carried out by EU citizens and 44.8% were by non-EU citizens, registering a slight increase over 2013, when the latter reached 42.1%. With regard to the regions, the Registrars again highlighted the Balearic Islands, which accounted for 16.3% of the transactions with a value of over 500,000 euros.

    El Economista reported that families purchased 84.7% of the homes sold in 2014, compared with 78% in 2013, while companies accounted for 15.2% of the transactions, registering a decline in housing transactions for the first time in four years. In 2013 they represented 21.9% of the home purchases, in 2012 the figure was 18.6%, in 2011, 12.7% and in 2010, 6.5%. However, the figure for 2014 is still triple the volume of 2007 (5.1%), before the start of the crisis.

    The regions to register the greatest number of housing transactions by companies were the Canary Islands, the Balearic Islands and Andalucía, while the Basque Country, Extremadura and Asturias are the regions where the percentages of transactions carried out by private individuals were higher.

    With respect to the average size of the homes acquired, the Registrars’ analysis reveals that buyers are still showing a preference for medium or medium-to-large homes.

    The homes of less than 40 square metres in size accounted for 3.64% of the transactions, followed by those of 40 to 60 square metres, with 17.2%, while transactions on homes of 60 to 80 square metres reached 29.1% and those on homes of over 80 square metres accounted for 50% of the sales.

    The Registrars highlighted the regions of Extremadura and Castilla-La Mancha, with two-thirds of the acquired homes being over 80 square metres, while in contrast the same ratio of transactions in Catalonia and the Canary Islands were under that size.

    Source: Kyero

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