By Anna Akopyan • Published: 10 May 2024 • 17:31
Spending money on property Credit: Pavel Danilyuk, Pexels
Statistics Information Centre for Notarius Publicus revealed that foreign home buyers spend 72 per cent more money on home purchases than the Spanish do.
Foreigners looking for a house in Spain spend an average of €2,715 per square metre, while the Spanish spend €1,580, revealed the authority.
Last year, 21 per cent of all home purchases in Spain were made by foreigners. In the Valencian Region alone, nearly 19,000 homes were purchased by non-Spanish citizens. Andalucia and Catalonia followed with 11,768 and 9,773 sales.
Furthermore, the most expensive property per square metre in the country was sold to a foreigner in the Balearic Islands for €4,169 per square metre.
A new tendency arose in Spain when last year, Chinese nationals bought a large number of properties in Spain for the first time, spending €3,902 on average. Amongst other nations, British, Germany and France were the ones spending the most on Spanish property, highlighting the rising number of expatriates in the country.
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Originally from Moscow, with Russian and Armenian origins, Anna has lived in Costa Blanca for over ten years. She is passionate about singing, acting and traveling.
Sadly we get nothing of value for the money. The general quality of homes in Spain are poor compared to other countries. Thin walls especially if you are attached to neighbours. Poor insulation, poor quality windows but the good news is the builders make a LOT OF MONEY-
Yes how right you are, I moved last October, near Valencia, so many villas I looked at had terrible water damage at the bottom of most walls due to damp as single wall construction, insulation works both ways, thin double glazing windows poor fitting letting cold air in, it often gets to +8 at night during the winter months, I assume it’s about cost and building for summer heat only, but life style and weather make up for it.
So with all this so called new money flooding in, isn’t it time this so called government introduced incentives to save rural Spain from ghost towns, where the properties are well constructed but need some love and attention now.
Therefore ‘let the buyer beware’
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