Foreigners are biggest buyers in Spain

RUSSIAN and Scandinavian buyers are the biggest buyers of Spanish property according to Taylor Wimpey España. New figures have revealed that despite the tough economic climate, Spain remains the EU’s top holiday destination.

Eurostat, the Statistical Office of the European Union, found that 13 per cent of all outbound trips within Europe were made to Spain, with Italy and France coming in joint second place.

These figures do not include holidaymakers outside the EU however, and total visitor numbers are likely to be much higher.  With almost 10 per cent of the nation’s GDP derived from tourism, this will be good news for Spaniards.

Furthermore with buoyant tourism sectors often driving local property markets, it’s no wonder that ever more foreign nationals are looking to purchase Spanish property. According to statistics from the Bank of Spain international property investment in Spain grew by 17 per cent to more than €5,445 million in 2012.

Marc Pritchard, Sales and Marketing Manager for leading Spanish house builder Taylor Wimpey España commented: “For us, Russians take the top spot of biggest property purchasers followed closely by Scandinavian buyers. Russian interest in particular has increased dramatically over the last year.

“On the Costa del Sol alone, 45 per cent of the total sales this year have been from both Scandinavian and Russian buyers.”