Alan Wentworth-Harley's Marbella Property Insider

Navigating towards the halfway mark of 2023, the Spanish property market keeps registering a substantial rise in transactions involving overseas purchasers. The persistence of the pandemic has not deterred Spain from being a top selection for people looking for an additional residence or a retirement haven, as evidenced by the increasing sales figures. Data from the Spanish Land Registry indicate a surge in the proportion of residential property acquisitions by foreign purchasers, which stood at 16% in 2023's initial quarter. The figure marks an escalation from 14.5% during the corresponding period in the preceding year. This spike in foreign interest may be credited to a combination of Spain's pleasant weather, tranquil way of life, and property prices that are more affordable compared to other European nations. A significant factor fuelling the heightened attraction from overseas purchasers has been Spain's "Golden Visa" initiative. This scheme extends residency...