Spain’s Golden Visa Boosts Non-EU Buying

07/14/2014 11:06

The General Council of Notaries in Spain published data this week showing that US, Chinese and Russian buyers were among the most active foreign buyers in Spain during Q1 2014 with buying activity from each nationality increasing by 88.9%, 83.1% and 62.6% respectively, compared with 2013.

19.4% of all Spanish property sales in the first quarter of the year were to foreign buyers, 47.9% being non-residents.

Andalucia saw one of the strongest increases in property sales, increasing by 32.5% with many buyers being attracted to the cosmopolitan town of Marbella and its close proximity to Malaga airport and the tax haven of Gibraltar.