Impressive property stats for 2018 confirmed

Most people active in Marbella real estate knew that 2018 was a good year for property in Spain, but we didn’t have the final stats to back up what we thought was true.
Now, data from the Spanish Registrars Association has confirmed that overall Spanish property sales significantly increased over the period.

The overall market
According to the statistics, the national market grew by an impressive 11,3% over 2017.

Furthermore, and very important to real estate agents on the Costa del Sol, sales to overseas buyers across the whole of Spain totalled 65,400, which is equivalent to 12,6% of total sales.

Regional sales
It appears that the Balearics are still a hot favourite with foreign buyers, because they accounted for 30% of all sales to non-Spanish buyers.

In Andalucía, which has the fifth highest ratio of foreign-to-domestic property buyers, the proportion of overseas buyers stood at 15%.

Value of sales to foreign buyers
Marbella is known for its high-end properties, and while we can’t be certain that all of the foreign buyers who purchased homes valued at €500,000 and over bought in Marbella, all in all, a high proportion of the properties purchased by foreigners were in this price range.

Geographic origin of overseas buyers
The statistics also revealed that in the case of properties worth over half a million, some 34,9% of the buyers came from outside the European Union.

This is surely in response to Spain’s Golden Visa scheme, which gives buyers from outside the EU a number of travel and residency benefits when they purchase a property that costs at least €500,000. Yet, there is more to be done here, as the statistics also indicate that non-EU buyers accounted for 45% of overseas property purchasers in 2018.

Moreover, there are more homes that are permanently inhabited than was the case in 2017, which may indicate that more overseas owners are staying for longer, and indeed choosing Marbella as their permanent base.

In fact, modern technology and ways of working are making it possible for more and more people from Europe and beyond to work internationally but enjoy a Marbella lifestyle.


305, 2019

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