Post by account_disabled on Mar 12, 2024 19:18:47 GMT -10
Home purchases by foreigners have jumped onto the political and media agenda in recent weeks. The rise of transactions that are being led by foreigners to record levels , added to the high prices of housing and the electoral calendar, have driven a flood of proposals to limit this type of operations in Spain.
Beyond the changes that the Government may Phone Lead apply in the granting of the 'Golden Visa' for those foreigners who buy homes of more than 500,000 euros, in recent weeks there have been initiatives that seek to limit the direct acquisition of properties by foreigners. non-residents under the hypothesis that behind these transactions there is a speculative component and that they cause an increase in housing prices.
Parties such as Unidas Podemos or Más País have announced that, in those places where they govern after the regional and municipal elections of 28M, they will take measures to stop this type of purchases, especially in areas where there are price tensions. However, the official figures put a very different reality on the table: non-resident foreigners have a notable weight in some Mediterranean provinces, such as Alicante or Malaga, but very minimal in Madrid and Barcelona, the two largest residential markets in the country.
Furthermore, as explained by real estate agencies and consultants, the priority objective in most cases is to buy a home to enjoy it . And they remember that non-residents usually acquire properties that are not affordable for the vast majority of families , so they do not detract from the offer to the middle class, limiting their impact to the 'prime' residential market. In fact, the average price paid by non-residents has broken a record and exceeds that paid on average by national buyers by more than 1,000 euros/m2.
According to data from the Ministry of Transport, Mobility and Urban Agenda (Mitma), throughout 2022 non-resident foreigners bought 63,050 homes in Spain of the 717,558 total transactions recorded . That is, they represented 8.78% of the total.
Only 15 provinces recorded more than 700 acquisitions throughout last year. These are the Mediterranean provinces (Girona, Barcelona, Tarragona, Castellón, Valencia, Alicante, Murcia, Almería, Málaga and Cádiz), those located on the islands (Balearic Islands, Las Palmas and Santa Cruz de Tenerife), Madrid and Granada.
Beyond the changes that the Government may Phone Lead apply in the granting of the 'Golden Visa' for those foreigners who buy homes of more than 500,000 euros, in recent weeks there have been initiatives that seek to limit the direct acquisition of properties by foreigners. non-residents under the hypothesis that behind these transactions there is a speculative component and that they cause an increase in housing prices.
Parties such as Unidas Podemos or Más País have announced that, in those places where they govern after the regional and municipal elections of 28M, they will take measures to stop this type of purchases, especially in areas where there are price tensions. However, the official figures put a very different reality on the table: non-resident foreigners have a notable weight in some Mediterranean provinces, such as Alicante or Malaga, but very minimal in Madrid and Barcelona, the two largest residential markets in the country.
Furthermore, as explained by real estate agencies and consultants, the priority objective in most cases is to buy a home to enjoy it . And they remember that non-residents usually acquire properties that are not affordable for the vast majority of families , so they do not detract from the offer to the middle class, limiting their impact to the 'prime' residential market. In fact, the average price paid by non-residents has broken a record and exceeds that paid on average by national buyers by more than 1,000 euros/m2.
According to data from the Ministry of Transport, Mobility and Urban Agenda (Mitma), throughout 2022 non-resident foreigners bought 63,050 homes in Spain of the 717,558 total transactions recorded . That is, they represented 8.78% of the total.
Only 15 provinces recorded more than 700 acquisitions throughout last year. These are the Mediterranean provinces (Girona, Barcelona, Tarragona, Castellón, Valencia, Alicante, Murcia, Almería, Málaga and Cádiz), those located on the islands (Balearic Islands, Las Palmas and Santa Cruz de Tenerife), Madrid and Granada.