The foreign property market is heavily reliant on the Germans, almost 60 percent of foreign property sales this year were to Germans. | R.L.
Alarm bells are ringing, the number of properties sold to foreigners fell by 28 percent in the second quarter added to a fall of 31 percent in the first quarter. ABINI, the association of national and international real estate agents, quite rightly, sounded the alarm. To make matters even more worrying some parts of the mainland are enjoying a foreign property boom; in Valencia sales of homes to foreigners rose by 9 percent. The drop in sales has been blamed on a number of factors from Brexit to the problems being experienced by the German economy.