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    Spain: Belgians continue to invest heavily in second homes

    According to the latest figures that Spanish notaries have made available to the newspaper Libre Belgique, Belgians are well on their way to beating the record for vacation homes purchased in Spain. Last year, Belgians were the most active in real estate purchases, buying nearly 3,800 homes.  From January to June 2014, 2,202 homes were purchased. During the first six months of the year, 35,000 properties were purchased by foreigners compared to the 28,000 purchased in the first half of 2013, representing a fifth of the total market.

    According to the Notarial Estradistica, the British are the largest buyers, followed by the French, Russians, Germans and Belgians, who bought more than 6% of all homes sold to foreigners in recent months. However, when comparing the number of sales to the number of inhabitants , Belgium is well ahead of the other countries. 

    Since the beginning of the Spain housing crisis in 2007, real estate prices have decreased by an average of 70%.

    Jason Bennett (Source: Belga)