One in three properties in
Foreign buyers, mainly from
A third of all properties sold in the
However, it isn’t that sales to foreign buyers have risen sharply over the last few months, more that sales to Spaniards have plummeted, while foreigners continue to buy at more or less the same rate. The proportion of one in three may be higher on the coast though, with many developments aimed exclusively at foreign buyers.
Estate agents have reported that as much as 40 per cent of their properties are sold to foreigners, and the majority are British who are looking for a permanent base, rather than a holiday home. Buyers favour the cortijos (country houses) in the area, and a large proportion of these are owned by foreigners.