More than a third of the homes sold in the Balearic and Canary archipelagos and in the Valencian Community are bought by foreign citizens, according to a study by the Notarial Statistical Information Center on the typology of the buyer in the Spanish real estate market.
The analysis reveals significant differences by autonomous community in the participation of foreigners and Spaniards in the purchase of housing. In the inland and northern regions of Spainsuch as Extremadura (97.0%), Galicia (96.4%) and Cantabria (96.2%), the majority of transactions were national buyerswith a very low foreign participation, less than 5%.
On the contrary, in the coastal and tourist areaswhere historically there is a greater presence of international residents and tourists, the participation of foreign buyers is much higher.
They highlight the Balearic Islandswhere 38.3% of the acquisitions were from foreign individuals; as well as Canary Islands (36.4%) and the Valencian Community (33.1%).
Murcia also presents a considerable participation of foreign buyers, with 26.6%; while in regions such as Catalonia (16.8%) and Andalusia (16.7%), although the majority of operations continue to be carried out by Spaniards, a notable proportion of foreigners is observed.
Madriddespite its status as capital and being an important economic center, says the report, has a balance closer to the average, with a 9.5% of purchases attributed to foreigners, which reflects a more diversified market in terms of origin of buyers.
On the other hand, there are also important territorial differences in the distribution of the purchase of homes by natural or legal persons.
In this case It is Asturias that registers the highest percentage of national legal entities, with 99.1%; followed by Cantabria and the Basque Country, both with 98.1%, which, therefore, means that real estate transactions by foreign entities are minimal, with less than 2% of the total.
The autonomous communities with a higher percentage of foreign buyers are mainly found in tourist and coastal areas. The Canary Islands stand out, where foreign legal entities represent 35.7%; Balearic Islands with 24.7%; and the Valencian Community, with 20.7%.
In communities like Andalusia (17.1%) and Murcia (13.2%), although the majority of purchases continue to be made by national legal entities, the foreign presence is considerably higher than in other inland areas; while Catalonia and Madrid, being key economic centersalso present a relevant participation of foreign entities, with 9.1% and 5.9%, respectively.
These figures reflect a strong interest of foreign entities in acquiring properties in areas of high tourist and investment attraction, according to the report of the General Council of Notaries, released this week.
#houses #sold #Balearic #Islands #Canary #Islands #Valencian #Community #hands #foreigners
