Pur­chases by for­eign buy­ers in­crease for the first time in eight years

Costa Levante News - - FRONT PAGE -

By Shel­ley Lid­dell FOL­LOW­ING eight years of down­ward trend in prop­erty sales to for­eign res­i­dents, at last fig­ures seem to be on the rise.

When Brexit was an­nounced, there was a no­tice­able drop in Bri­tons pur­chas­ing Span­ish prop­er­ties, now at least the trend has changed, and sales to Brits are once again on the rise. This added to more Swedes, Ger­mans and Rus­sians also pur­chas­ing prop­er­ties means that sales to for­eign res­i­dents are at their best since 2014. Dur­ing April, May and June of this year, for­eign­ers pur­chased 6,352 prop­er­ties in the re­gion - a 15% in­crease from the same pe­riod in 2017.

Con­tin­ues from front page The av­er­age sales prices were around €137,333, which is again an in­crease of €5,400 in com­par­i­son to last year’s av­er­age prices. Brits head the list of for­eign prop­erty buy­ers, pur­chas­ing 1,404 prop­er­ties be­tween April and June, an im­por­tant 17% in­crease from last year, fol­lowed by Swedes (687 prop­er­ties), Bel­gians (597), Ger­mans (375), French (363), Nor­we­gians (351), Rus­sians (340), Dutch (283), Al­ge­ri­ans (233) and Moroc­cans (174). The re­port has been re­leased on the same week the Va­len­cian gov­ern­ment is start­ing the process to oblige banks and other multi-prop­erty own­ers to rent out empty homes at af­ford­able prices. See re­port on page 13.

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