Housing demand continues to rise, according to the latest real estate market report published by luxury real estate agency Lucas Fox. During the three quarters of 2017 compared to the same period of 2016. they recorded an increase in the sales number 50% on average in all regions where it is present.
Valencia and Sitges top of the list with an increase of more than 100% in sales during the first nine months of 2017. Madrid and Barcelona also continue in the Top 5 with an increase of 70% and 38%, respectively.
On the other hand, according to data from the same report, during these first nine months of the year, 65% Lucas Fox’s buyers have been foreigners. British and French are still the most active, accounting for 18% of transactions. US and Canadian investors have followed an upward trend and now account for 8% of the company’s total sales.
The latest data from the Association of Spanish Registrars also point to an increase in the demand for Spanish properties by foreigners. There represented 11.6% of the total real estate sales made in Spain during the third quarter of the year and have continued to grow until they currently stand at 12.9%. In addition, the main motivation for buying during this period was the acquisition of properties as a second home (31%), followed by investment (30%), and acquisition as a main home (26%). The remaining 13% corresponds to purchases to acquire the Golden Visa, among other reasons.