A recent Spain’s Notaries Board report shows that the number of overseas buyers in the country has been increased by a 10% in 2013.
Nearly a quarter of those who have purchased a home in Spain last year came from abroad. The data shows that to buy a property on the shoreline is still much more attractive for foreign citizens than to buy in inland areas.
Purchases are headed by the Mediterranean coast and Canary Islands. Andalucia’s Costa del Sol attracted a 16% more home investments than the previous year. Foreign buyers tend to choose more expensive properties than locals.
We recommend to consult with a local legal advisor before enter into any agreement. The economic crisis which has affected the property market seems to be behind the results. Home’s prices in Malaga have been going down for the last 6 years allowing foreign investors to benefit from acquiring quality homes for more reasonable prices than in the past.
The general pattern shows that the declining price line is getting to an end and could start to go up in the years to come. Nevertheless, British nationals are among those who not seem to be willing to invest in Spain. However, we are sure that this trend will also be affected by a better progress in a short time. Real Estate operation data in the Costa del Sol shows that trending change.
If you are thinking to live in Spain or investing in the Costa del Sol, we can help you. We offer you a professional legal advice on your buying process. Do not hesitate to ask us all your doubts. SpanishLawyers.eu | Uniabogados – Your solicitor in Spain.