Go to Investment Europe homepage
  • Register for Investment Europe
  • Join Investment Europe’s LinkedIn group
  • Follow Investment Europe on Twitter
  • Investment Europe on your mobile
  • Investment Europe RSS feeds

Swedes, Norwegians lead charge to buy Spanish property

  • By: Jonathan Boyd
  • 03 Apr 2012
  • Be the first to comment
map of spain

Figures published by Fastighetsbyrån, part of Swedish banking group Swedbank, suggest Swedish and Norwegian property buyers have pushed hard into the Spanish residential property market, as British and German buyers have withdrawn in the past half-decade.

Figures for property transactions over the past four years provided by Fastighetsbyrån's Spanish market business The Real Estate Agency, suggest that Spanish property transactions involving foreign residents from the UK, Germany, Sweden and Norway increased 10% in 2011 compared to 2010.

However this total masks some significant trends affecting buyers from individual countries. Purchases by buyers from the UK dropped another 6% last year, but those involving Germans were up 5%, Swedes up 46%, and Norwegians up 61%.

Over the four year period, the number of UK buyers has dropped by 65% and German buyers by 3%. However, the number of Norwegian buyers is up 108%, and Swedes by 138%. The total market is still down 33% from its 2007 peak, the figures also suggest.

Daniel Nilsson, regional head at The Real Estate Agency, said: "The Swedish economy has been much better than compared with, say, the UK. And the Swedish krona has been strong at the same time that prices along the Spanish coasts have dropped 30% to 40%. This has made it possible for many Swedes to realise their dreams of living in warmer latitudes."

Despite the downturn in sales to Britons, Fastighetsbyrån is planning a business push into the UK to attract more buyers to the Spanish market.

Through its existing Swedish business, the company intermediated some 36,000 property deals worth about SEK50bn (€5.7bn) during 2011.

Visitors Comment

blog comments powered by Disqus

Market

Regions

European map
Benelux France Iberia Italy Germany Switzerland Austria Emerging Europe Scandinavia UK Ireland

Print Edition

Events

david-sugarman-polar-capital

Polar's Sugarman to speak on convertible bonds at Zurich Forum

David Sugarman, fund manager for Polar Capital, will discuss convertible bonds at the InvestmentEurope Pension Fund Forum held in Zurich on 15 May.

ana-harris-state-street

SSgA's Harris to discuss smart beta at Zurich Pension Forum

Anna Paula Harris, portfolio strategist for the global equity beta solutions group at State Street Global Advisors (SSgA), will address smart beta strategies at the InvestmentEurope Pension Forum to be held in Zurich on 15 May.