According to the latest report by the Spanish Association of Registrars (Colegio de Registradores), home purchases by foreigners reached a new record high at the end of 2014 and have been growing for five consecutive years.
In general, most of these foreign investors are tourists who come to spend holiday periods to Spain and, after their holidays decide to invest in a second home in Spain. According to a study of TM Real Estate Group, its main motivations are buying good quality of life, the sun and good air links with their country of origin.
What nationalities have foreigners buying in Spain?
According to the Colegio de Registradores, the British remain number one buyers with 19% of home purchases by foreigners, followed by French (9%), Germans (7%), Belgian (7%), Italians (6%), Russians (6%), Swedish (6%), Chinese (4%) and Norwegians (4%).
According a recent study from TM Grupo Inmobiliario these are the profiles of the foreign investor by nationality:
- English Buyer: men and women over 60 years retired, middle-class, with an annual revenues of more than € 36,000, with children and grandchildren. They look for a relaxed atmosphere, the greatest motivation to purchase is the weather, good air connections and good medical service offered by Spain.
- Belgian Buyer: men and women over 50 years with a higher level of education, business executives with an average salary of more than € 60,000 per year. Usually families with children and grandchildren, sports fans outdoor and like eating out. The climate, proximity to the sea and the quality of services offered is what catches their attention to the time to invest in a second home in Spain.
- Russian Buyer: usually a man between 35 and 45 years, with a high level of studies, married with children. Business profile with an average annual salary of € 80,000. Noted for his fondness for the beach, shopping, excursions and water sports. His main motivation for buying is the quality of life in Spain and also the residence is a great incentive.
- Scandinavian Buyer: married between 45 and 70 years, with high revenue of more than € 90,000 per year. Highlights retirees seeking a retreat for golfing, biking or relax on the beach. Their main motivations for buying in Spain are the sun, the healthy climate and good connecting flights to their countries of origin.
They usually buy in Balearic or Canary islands, Barcelona or Madrid, and the Mediterranean regions.