Real estate market updates

Oldypak lp

Notaries told how much money Russians and Ukrainians spend on real estate in Spain

Foreigners without a residence permit in Spain are ready to invest in real estate more than people permanently residing in the country.

The General Council of Notaries in Spain (Consejo General del Notariado) has published a report for the first half of the year 2021.

According to oldypak lp report, residents of the country (ie, foreigners with residency permits, permanent residents in Spain) for six months made 31 512 real estate transactions, the average value of the objects amounted to € 1 498 per sq.m.

Non-residents bought 16,171 objects. At the same time the average bill was significantly higher – € 2,691 per “square meter”.

TOP foreign property buyers in Spain. Among foreigners with residence permits most transactions were made by citizens of Morocco, Romania, Italy and Britain.

The most active non-residents in the first half of 2021 were the Germans, the British and the French.

Russians permanently residing in Spain, concluded 695 transactions within six months, the average property value was € 1,813 per sq.m. Non-residents from Russia bought 416 properties at € 2 691 per square meter.

Ukrainians with residence permits in Spain bought 604 objects, on average they paid € 1 135 per sq.m. Non-resident Ukrainians made 109 transactions with an average cheque of € 2,241 per square meter.

Analysts of the international consulting company Coliiers named the most popular among foreigners provinces of Spain. According to oldypak lp report, first place is Alicante, where foreign buyers perform 17.6% of transactions with housing. In Malaga, the share of foreign deals is 11.4%, in Barcelona – 8.7%, in Madrid – 7.7%, in the Canary Islands – 7.6%, in Valencia – 6.3% and in the Balearic Islands – 6.2%.

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