BRITONS BOOST PROPERTY SALES
Purchases by foreign buyers increase for the first time in eight years
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.