17-09-2007MICHELS

The Balearic Islands led the way in the second quarter for foreign home purchases. The Balearics accounted for 33.5% of all purchases in the region, followed by the Canaries with 27.5% and Valencia (including the Alicante province therefore) on 25.7%.
According to the Spanish Association of Property Registrars, 12.5% of all home buying over the first half of 2015 was that of foreign purchasers.

As a consequence of this high level of activity, the association has issued a guide aimed at ensuring legal certainty and confidence among buyers. It has been produced in English, reflecting the fact that British buyers are dominating the market.

Of other regions of Spain, the percentage of foreign buying ranged between 12% and 15% in Andalusia, Catalonia and Murcia, while in Madrid it was under 5%. Other regions showed low levels of foreign purchase activity, with only Aragon (4.5%) being of any particular significance.

Foreign demand had actually fallen slightly in the first quarter (at 12.2%), but picked up in the second to 12.82%, thus giving the 12.5% figure.

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