Wednesday, 8 February 2017

Swedish Demand for Spanish Property up 20%

Swedish Demand for Spanish Property up 20%

The latest data from the property registrars (Registradores) and the Spanish second home analysts Shario shows how the foreign interest in Spanish property is changing. It looks like the fastest growing group of buyers is the Swedish market.

The sweeds have been buying property for years
but even more so right now
The figures show that Swedish buyers picked up 22.7% more property during the summer of 2016 compared to the previous quarter; meaning Swedes are now the fourth largest group of international buyers.

Brits were responsible or 18% of transactions made to foreign buyers, followed by the French at 9%. The Swedish bought the same amount of homes as the Germans (7%) but there is a crucial difference; Swedish demand is rising at a rapider pace than German demand.

There are some places, such as the Costa del Sol and Alicante, where Swedish buyers have become the second largest group of foreign buyers after the British.

While the specific number of homes sold to Swedes is small compared to the British, it’s important to understand the context. Swedes purchased 2,797 Spanish properties leading to the third quarter of 2016; which was more than the 2,755 properties sold across all of 2015. There was an average of 1,000 properties sold during the second and third quarter, suggesting that 4,000 homes could be sold to Swedes in total during 2016.

Swedish buyers typically prefer to buy two-bedroom apartments or a small townhouse up to an hour away from the airport and close to a beach.