As we continue to see markers suggesting the Spanish property market has recovered from the crisis, the Ministry of Public Works has released data that corroborates what we’ve been seeing.
During 2015, investment in real-estate by foreign residents increased by 15% compared to the previous year. In monetary terms this amounts to 9,918.6 million Euros.
The data shows that of the total investment, the vast majority was for resale, or second-hand, properties accounting for 8,808.6 million Euros of the total. The remaining 1,110 million Euros was invested in new-build properties.
When comparing the data to 2014 we see that the resale market has increased by 14.5% while the market for new-build property grew by 18%, El Economista reported.
There are no surprises when looking at the regional distribution of the invested monies. Andalucia attracted the most investment from foreign residents accounting for 2,255.6 million Euros. The usual suspects, Valencia and Catalonia, predictably came close with 2,202.3 million and 1,797.2 million Euros of foreign investment, respectively.