Foreigners buying over 50 percent of properties Costa del Sol
- 50% all properties on the Costa del Sol in Spain bought by foreigners.
- Highest level ever, not even during the great building boom in 2007 the proportion was greater than right now.
- 4.640 of the total of 9.526 properties sold last year on the Costa del Sol went to non-Spanish nationals.
- 50 percent of all properties sold in Malaga province ended up in foreign hands.
- Five million tourists prefer private accommodation.
- Danes, Russians and Swedish are buying more than ever.
- The region Andalusia(south of Spain) registered a +15.6%. increase in purchases of foreigners
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The share of properties sold to non-Spanish nationals has reached its peak. It surpassed even the golden building boom in the middle of last decade, says José Prado, president of the association forproperty sales in Malaga.
Property purchase on the Costa del Sol in Spain is for some buyers primarily an investment. Of the 9.5 million tourists last year that landed in Malaga province, chose less than half stay at the hotel. Five million tourists prefer private accommodation.
Property buyer of Danish and Swedish growing most by foreigners in Spain
Foreigners accounted for 21.4 percent of property purchases in the open market in Spain last year. Recent figures from the “Consejo General del Notariado” shows that foreigners bought 55,187 properties, an increase of 9.8 percent compared with 2012.
Among the foreigners purchases was most among Danes (27%), followed by Swedes (24.4%), Americans (20%), French (11.8%), Russians (10.8%) and British citizens (10.7%).
The average price per square meter in Spain last year was at 1.486 Euros, a decline of 3.8 percent compared with 2012.
Homes for sale from Banks, forced or urgent Luxury villa sales in South of Spain-Costa del Sol (click here)
Building boom for Luxury villas in Marbella. If you drive around the best areas of Marbella, you will notice construction is back.
New Luxury villas are being build in prime locations, often replacing a old house or older houses are being reformed.The new building boom is in villas in prime locations.
Above is villa is located Marbella Hillside a prime object to reform
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