Valencia most popular with foreign purchasers
In the first quarter of 2006 Valencia enjoyed the highest number of sales to non-resident and foreign buyers of any Spanish region, according to a survey by Spanish bank Caixa Catalunya...
Overseas Property Professional magazine reports on a survey by Spanish bank Caixa Catalunya which reveals that Valencia drew the largest number of foreign and non-resident homebuyers in the first quarter of 2006 (buying 8,879 homes). Next most popular were the regions of Cataluna (5,778), Andalusia (4,028), Madrid (3,899) and Murcia (2,219); by contrast, Ceuta and Melilla were the least popular regions with foreign investors, with only 17 homes sold to non-nationals (just 17).
Overall, an eighth of all Spanish home sales in the first quarter of 2006 were made to foreign and non-resident buyers who purchased 33,241 out of a total of 233,669 homes on the market. The high levels of immigration to Spain between 1995 and 2005 have helped boost the Spanish economy, spurring on employment and consumer demand. Indeed, Caixa Catalunya found that as much as half of Spain's growth in private consumption can be attributable to Spain's growing expat population.
Riding on the crest of a wave
Valencialife.net reports that house prices in Valencia have risen by 11% over the last year and are showing no signs of slowing, with industry insiders predicting that prices will grow "by at least 10%" in 2007.
Next year, Valencia will host the world's most famous yacht race - the Americas Cup. Ahead of this prestigious event, Spain's third largest city is benefiting from £270 million investment in infrastructure, including the expansion of the metro, the road network and the airport as well as the construction of new hotels.
In the first quarter of 2006 Valencia enjoyed the highest number of sales to non-resident and foreign buyers of any Spanish region, according to a survey by Spanish bank Caixa Catalunya...
Overseas Property Professional magazine reports on a survey by Spanish bank Caixa Catalunya which reveals that Valencia drew the largest number of foreign and non-resident homebuyers in the first quarter of 2006 (buying 8,879 homes). Next most popular were the regions of Cataluna (5,778), Andalusia (4,028), Madrid (3,899) and Murcia (2,219); by contrast, Ceuta and Melilla were the least popular regions with foreign investors, with only 17 homes sold to non-nationals (just 17).
Overall, an eighth of all Spanish home sales in the first quarter of 2006 were made to foreign and non-resident buyers who purchased 33,241 out of a total of 233,669 homes on the market. The high levels of immigration to Spain between 1995 and 2005 have helped boost the Spanish economy, spurring on employment and consumer demand. Indeed, Caixa Catalunya found that as much as half of Spain's growth in private consumption can be attributable to Spain's growing expat population.
Riding on the crest of a wave
Valencialife.net reports that house prices in Valencia have risen by 11% over the last year and are showing no signs of slowing, with industry insiders predicting that prices will grow "by at least 10%" in 2007.
Next year, Valencia will host the world's most famous yacht race - the Americas Cup. Ahead of this prestigious event, Spain's third largest city is benefiting from £270 million investment in infrastructure, including the expansion of the metro, the road network and the airport as well as the construction of new hotels.
posted by tony at 4:16 PM
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