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Property sales to foreigners in Spain account for yet another increase this quarter

The publication of the last International Homes Sales Report in Spain has not disappointed expectations. As it had been pointed out by various credible sources, property sales to foreigners in Spain grew during the first quarter of 2018, registering a year-on-year increase of 5.2% (with just over 22,000 completed sales). This is, without doubt, great news that also reveals important secondary trends. 

Alicante, the Province Most Open to Foreign Investors

The Alicante coast continues to enjoy its popularity with the foreign market. Between January and March, sales to foreigners in this province accounted for almost half of the signed contracts (49%), with a growth of 14% over the same period of 2017. There is no doubt that the Costa Blanca resort has achieved a very solid position among the European investors, especially the British, German and Nordic buyers. 

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Islands Remain at the Forefront

Both the Canary archipelago and the Balearic Islands have recorded slight declines in interannual terms, despite the fact that several of their islands are still among the main destinations for foreign buyers. Santa Cruz de Tenerife stands out above the rest with a market share of 44%, while Las Palmas de Gran Canaria and the Balearic Islands as a whole have seen how 34% of sales have been carried out by international buyers. In absolute terms, almost 5,000 sale contracts have been signed among all the large Spanish islands.  


Costa del Sol and Costa Brava, Divergent Trends 

The province of Malaga, linked to the popular Costa del Sol, recorded a 12% increase in property sales to foreigners in the first quarter of the year. This rebound allowed these contracts to cover 32% of the total sales completed during that period. On the contrary, the province of Gerona experienced a decline of 13%. However, the Costa Brava region saw how foreign investment accounted for a remarkable 27% of its total sales volume. 
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The Big Surprises

Faced with more or less expected trends, some provinces have caused a stir in a very positive way. The most striking case is Segovia, where home sales to foreigners increased by an impressive 189% compared to the first quarter of last year, accounting for 11% of the total figure. On the other hand, Madrid, with 1,831 completed cases, was the third province with the highest number of properties purchased by foreigners. 

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