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Home Sales to Foreigners Fall by 11% Despite the Summer Upturn

And in 2020 as a whole, purchases are down by no less than 24.2% compared to the previous year. The British market, however, looks set for a recovery.

Residencial costa viviendas de Inmoglaciar Altea HIlls by QBA

Despite the recovery in transactions since June, with the end of the lockdown, restrictions on travellers and general uncertainty have continued to weigh on businesses that depend on international demand.

According to statistics published Tuesday by the General Council of Notaries, property sales by foreigners fell by 10.8% year-on-year for a total of 45,062 transactions. In 2020 as a whole, purchases have fallen by no less than 24.2% compared to the previous year.

These operations accounted for 15.9% of the national total in the second half of 2020, equivalent to a fall of 18.7% compared to the average between 2012 and 2019. “The sale and purchase of free housing by foreigners slowed its fall in the second half of 2020, after the sharp decline in the first half of the year,” say the notaries.

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