20% OF FOREIGN TOURISTS PLAN TO BUY A HOUSE IN SPAIN

Kevin Eagan - Sep 19, 2016
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Two out of every ten foreign tourists who visited Spain during the months of July and August plan to buy a second home in the country, according to a study by Iberia Real Estate.

Broken down by nationality, German tourists are interested the most in Spanish homes especially in areas such as Levante, Catalonia and Mallorca.

According to Iberia Real Estate the greatest demand is no longer only for the traditional cities. The fact is that foreign tourists are beginning to discover other parts of the country such as Andalusia, Cantabria and Galicia.

The impact of terrorism in the Mediterranean is the main reason the potential buyers choose Spain. They understand that the situation has changed and that over the next few years it will be risky to travel to places like Tunisia, Southern France, Turkey, Egypt and other Arab countries where all European tourism used to be heading until this year.

The buyer profile is that of a male between 40 and 50 years with a family. He wants to establish a place in Spain to spend holidays and sees the opportunity to get a house for low price and favorable terms.

Real estate sales have grown by 30% this summer, according to Iberia Real Estate and will continue to grow for the rest of the year. An important part of this growth is due to the purchases by foreign tourists.

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