Families and earn foreign share in home sales during 2015

 

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Families and earn foreign share in the sale of homes in 2015 for the second year. According to the real estate yearbook 2015 of the College of Registrars, house sales made by households accounted for 87.3% of all transactions in 2015, representing a 2.6% increase, while the purchase of flats by foreign marked a new record high by packing 13.18% of total transactions.

Real Estate Registration Statistics shows the growing importance of foreign buyers in the housing market. Specifically, housing acquisitions accounted for an annual average of 13.2% of all transactions recorded in 2015, adding the seventh consecutive year of growth from 4.2% in 2009, which marked the lowest point. Thus, home purchases by foreigners has maintained its "favorable evolution" during 2015, leading to a new year high of home buying by foreigners to be above 13.01% in 2014.

By region, the participation of foreign citizens observed especially in tourist geographic areas par excellence: Baleares (35.6% of total sales made in the community are carried out by foreigners), followed by Canarias (28.1%) and Valencia (26.4%). As a counterpoint, with less presence of foreign transactions, Galicia (0.6%), Extremadura (0.8%) and Castilla y León (1.4%) would stand.

Following recent legislative reforms that allow the granting of residence permits to foreigners who perform one or more real estate acquisitions for a total amount equal to or above 500,000 euros, the yearbook includes a segmentation in this regard. These operations of high value homes have accounted for 5.2% of all purchases made by foreigners, similar to 2014 and 4.7% higher than 2013. Of these, 62% are EU citizens and 38% remaining non-EU, down on 2014, the year in which the latter reached 44.9%. By region, highlights again Baleares, with 16% of transactions above 500,000 euros.

Statistical Yearbook Property Registry also analyzes the use of housing as well investment or use through halftime possession of their owners when they sold. The purchases with period exceeding five years have passed possession of 43.7% in 2007 to 80.7% of the total in 2015. By contrast, operations with period less than five years increased from 56.3% possession in 2007 to 19.3% in 2015. with small ups and downs, the average time of possession has increased from 7 years and 10 months in 2008 to 12 years and 7 months of 2015, representing 62% more.

Regarding the surface characteristics of the homes purchased, buyers are still plumping for average-sized homes or medium-large. Specifically, the houses less than 40 square meters accounted for 3.7% of transactions, followed by 40-60 square meters, with 17.1%.

Thus, the remaining 80% corresponds to the houses of 60-80 square meters (29.1%) and those over 80 square meters, which staged themselves 50.1% of acquisitions. By autonomous communities, Navarra and Extremadura stand, where two thirds of households have acquired more than 80 square meters. On the opposite side Catalonia and the Canary Islands, where two-thirds would be below the surface would be located.

Less Buying Leads

The recorder data show that, with rising share in the sale of homes, businesses continue to lose weight in the housing market, and that carried 12.7% of all operations in 2015, compared to 15.3 % in 2014 and 21.9% in 2013, although still widely exceed the volume of 2007 (5.1%).

The distribution of purchases and sales between individuals and legal persons is not homogeneous throughout Spain. Canary Islands, Murcia and Catalonia are the regions where companies have a greater weight in housing operations, while Basque Country, Extremadura, La Rioja and Asturias are the territories where the role of individuals is higher.