The latest report from the Spanish property registrars for the first quarter of 2018 showed that property sales in Spain rose to the highest levels since 2014, largely thanks to an increasing number of foreign buyers, led by the British.
The Spanish Land Registry recorded a 13% rise in the first three months of this year and represents the highest quarterly figure since 2008.
Foreign buyers increased by 13.2%. Of total foreign sales, 14% were from British buyers, 8% from both Germany and France, 7% from Belgium, 6% from both Italy and Sweden, 4% from China, and 3% from Russia.
When observing the figures in more detail it is also clear that the highest growth in demand was from Bulgaria, increasing by 16%. This was followed by Morrocco and the Ukraine. On the other hand, Swiss buyers dropped by 15% and French demand fell by 10%. The Swiss figures are not highly significant as they account for very few sales. The French decline is however more compelling and considered to be due to the current situation In Cataluña that borders with France.
The overall figures certainly show that the Spanish property market is continuing in its recovery and foreign buyers see it as an attractive and secure location for a second home.
On the Costa del Sol there are several reasons, other than the sunshine, why foreign buyers are purchasing property. The quality of new developments has significantly improved, and with confidence back in the market, property prices are increasing. In addition, the region is continuing to show steady economic growth, and the purchase of development land by large international funds is generating further assurance in the area.
Siesta Homes is promoting 2 beautiful developments along the Costa del Sol for buyers looking to invest in Spain. After great success with similar projects such as the Aloha Hill Club in Marbella, buyers looking to invest in La Cala Hill Club and The Oakhill can expect high quality living and incomparable services. Siesta Homes has a proud philosophy of always offering more and these two development are no exception. For more information about these stylish developments please contact Siesta Homes on +34 951 204 324 or visit the development websites, lacalahillclub.com and oakhillmarbella.com.