Foreign investment in spanish property increases

Photo credit: FlickrDelusions

Foreign investment in Spanish real estate increased in the second quarter of 2012, according to new figures.

Overseas buyers bought a total of 9,502 homes in the three months to June this year, revealed Kyero, an increase of 12 per cent compared to the same period last year and the highest figure since four years ago, when 11,130 international sales were recorded.

The most popular area for investors to buy property was Valencia, where 3,114 houses were sold. Real estate in Andalusia was also in-demand, with 1,676 transactions completed over the three months, followed closely by Catalonia and The Canary Islands, where 1,615 and 1,173 houses were sold respectively.

The least popular areas for buyers include Cantabria, Extremadura and Ceuta and Melilla.