PMSII Property News – March 2018
Growing Foreign Demand for Spanish Property – Q4 2017 Figures
The latest figures from the Spanish Land Registrar’s Association for the last quarter of 2017 show foreign demand for Spanish homes growing unabated as British buyers return in force to the market. Some key figures: the overall market expanded by 19.8% in Q4 to 111,921 home sales while foreign demand rose to 15,266 purchases, the highest level in a fourth quarter since the boom years. Read more.
Malaga Province Among Strongest Property Markets in Spain
Malaga province has seen one of the strongest recoveries since the 2008 property crash. Last year, the province registered 30,300 sales, a 14.6% increase on the year before, making it the second highest number of sales per inhabitant in the whole of Spain. Foreigners acquired almost 30% of these homes, a percentage that also places Malaga among the most attractive provinces for the foreign buyers. In 2017, foreigners bought almost 9,000 homes in Malaga, representing 29.6% of total sales. Read more.
2018 Spanish Property Market Forecast Calls for Rise in Sales and Prices
Beatriz Toribio, the head of research at the Spanish property portal Fotocasa, recently said she expects Spanish house prices to rise in 2018, as new homes increasingly take centre stage. Toribio explained that there is also strong demand from investors, who, in the context of low mortgage interest rates, are drawn to returns from buy-to-let properties. Read more.