ALICANTE Province is continuing to attract the highest percentage of foreign property buyers in Spain.

International consultants Colliers say 17.6% of all foreign home buying in Spain for 2021 has been in the popular tourist region.

It makes the area the most sought-after part of the country for non-Spanish buyers for a second successive year.

Alicante Province leads in both new and second-hand purchases among foreigners.

Malaga Province comes second with an 11.4% share of the foreign market, followed by Barcelona on 8.7%.

The Canary Islands account for 7.6% of foreign buys while the Balearics stand on 6.2%

Colliers say that the busiest area for new property construction is Madrid with over 21% of Spain’s new builds.

Malaga Province comes second on 8.9%.

The consultants, who specialise in the real estate and hotel sector, commented that the first half of 2021 was the best for property sales since 2008.

“Housing transactions were 63.7% higher than in 2020 and 10.67 higher than the first half of 2019,” stated Colliers.

The significance of those figures is the rise in sales to levels above the pre-pandemic period of 2019, which back up other studies and official government statistics.

Colliers estimate an annual house price rise of up to 2% for 2021.


Subscribe to the Olive Press

This site uses Akismet to reduce spam. Learn how your comment data is processed.