Foreign buyers flock to Andalucia

LAST UPDATED: 3 Oct, 2014 @ 17:37
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Foreign buyers flock to Andalucia

A PROPERTY resurgence is under way in Andalucia, after new figures revealed a 32% increase in sales to foreign buyers. 

Property figures for this year’s second quarter revealed 2,985 properties were purchased in Andalucia, with a staggering 2,222 of those being bought in the province of Malaga (a 33% year-on-year increase).

Jaen saw the biggest percentage increase, with sales up 63.1% following 31 sales.

Huelva was close behind, with sales up 57.6% after 41 properties were snapped up.

And Cadiz also saw a whopping 55% increase thanks to 155 property sales.

Sevilla saw a 30.3% increase after 86 sales, whilst 278 properties were sold in Almería, up 20.3%.

Cordoba saw the lowest increase at 18.18% after 13 sales.

19 COMMENTS

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  1. Take away Malaga and 763 properties were sold. Cordoba has a population of 328,488 and they sold 13 properties. Derek, call me negative but the glass is still half empty, maybe it is only 5% full. I wish things were better.

  2. Yes Reap, that photo looks like an allotment in Sheffield going by the dialling code.

    Stats are deceptive and these actual figures are pretty pathetic. Take a closer look, they are nowhere the levels they need to be if they want to shift all the empty properties in a reasonable timescale.

    This is still not a functioning property market so how about helping it along a bit with some tax incentives?

  3. 2,222 homes sold in Malaga? I assume that is down to those foreign buyers? But all markets have a turning point, and with home mortgages in Spain jumping 28% in July, this looks increasingly like it. “http://www.spanishpropertyinsight.com/2014/09/29/home-mortgage-activity-spain-jumps-july/” By the way, always worth checking that site for a fair, balanced view of which way the property market in Spain is headed. Not that you need to buy when rents are so low though?

  4. Articles about the Spanish property market that include words like ‘flock’, ‘staggering’ ‘snapped up’ and ‘whopping’ somehow smack of desperation. The reality is there is still no real demand for such a glut of property that is forecast to last until 2022 by R R Acuna and Associates of Madrid.

    The posts by Reap, Jane and Robert are spot on!

  5. Amazing how the media are still harping about the first 6 months of the year when the latest update is that sales figures in July and August plummeted. Never seen a “fair balanced view” on any property website included the one mentioned above.

  6. How right you are Bryan about ‘fair balanced view’ on any property website including SPI now. Where once it seemed reasonably balanced that site is now plastered with commercial adverts, and agents’ hype on it’s home News page. Big pinch of salt needed there.

    I feel sorry for all those trapped in negative equity in Spain.

  7. Queues through the night to buy property in Barcelona? “http://www.onthepulse.es/property/queues-through-night-buy-property-barcelona-141014” Can that really be right? Crime-ridden, unstable Barcelona? But maybe the rental potential is all year around, less so in Andalucia?

  8. You have to laugh at the hype from these property websites, stinks of sheer desperation. Do they really think everyone and their Mothers will flock to buy because of a few headlines like a queue in Barcelona or the fact that they are getting junk mail from mortgage companies. Do they think the public are daft.

  9. Is it just a co-incidence that a certain property website is based in Barcelona and constantly hypes up property in Spain via numerous ads on it’s site? Plus it allows the rosy specs brigade to say what it likes to talk things up and censors those wanting to tell the truth.

  10. Hard to dispute that sales+asking prices now rising in Barcelona, even if that particular night-queuing story seems strange. “http://www.spanishpropertyinsight.com/2014/09/30/snapshot-barcelona-property-market-recovery/” The big question is, will this continue into next year?

  11. Mike I have been informed that the website you refer to has a clause that anyone saying anything negative about any of their advertisers will be deleted. Therefore, it is always going to look rosy, especially in Barcelona!

  12. Thanks Bryan and to add to that the owner of that site openly says in the paper the Local that he earns most of his money from estate agents, advertising, developers etc so it’s quite impossible for that website to be unbiased. He’d invited a property expert 5 years or so ago who said the market had bottomed, the expert was an agent and as we all know that information was wrong and may well have misled people into buying too soon. Iniquitous behaviour!

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