Domestic buyers returning

SpainWith the Spanish property market traditionally aimed at foreign buyers it seems the Spanish are now returning to the market too.

According to research from Savills, domestic buyers now make up two-thirds of Spanish property buyers with 66.2% of purchases made in the first nine months of 2011, a significant increase from the same period last year.

Danny Kinnoch, International Investment Director at Savills, said “Domestic investors continue to dominate the core market, but international players remain on the lookout for opportune deals.” He also added that he predicts an increase in investment in Spanish real-estate in 2012.

Meanwhile, recent research from the Royal Institution of Chartered Surveyors noted that expectations of capital and rental growth have dropped due to the increasing crisis in the eurozone.