Foreign buyers boosting sales of property in Spain

[Nicholas Wallwork]

Last year the Balearic Islands topped the charts for property sales over one million Euros to foreign buyers and the trend continued into the first quarter of 2013, the latest data shows. In 2012 some 729 sales were made to foreigners, with an average price of €1,080,361, compared with just 41 in Madrid averaging €584,433. [...]

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[DC]

YES, when you have things selling below the cost of rebuild then it makes sense and many foreigners are buying. The spanish are not buying so much now, they are in the crises, still.