Tuesday, May 26, 2020
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Non-Resident Foreigners Paid 46% More for their Homes than Spaniards

The average price per square metre of operations carried out by non-resident foreigners was 46% higher than those carried out by nationals during the period from 2014 to 2019, according to the Bank of Spain.

A luxury home in La Zagaleta, a refuge for wealthy foreigners.

The average price per square metre of operations carried out by non-resident foreigners was 46% higher than those carried out by nationals during the period from 2014 to 2019. That represented an increase in the gap compared to the crisis period from 2008 to 2013 when it was 19%.

In 26 provinces, the prices paid by non-resident foreigners were above those paid by nationals, and in the rest, they were below, according to analysis from the Bank of Spain carried out by three of its experts: Laura Álvarez, Roberto Blanco and Miguel García Posada, from the General Directorate of Economics and Statistics.

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