Belgians buying up property in Spain

Never before have so many Belgians bought property in Spain as in 2013. Belgians purchased a total of 3,804 properties in Spain last year, a fivefold increase compared to six years ago. In proportion to its population, that’s more than any other country, reports De Tijd.

In 2013, 2,833 Belgians bought a second home in Spain, especially on the Costa Brava. The remaining 971 purchases went to homes for permanent residence.

The rising interest in Spanish real estate is explained by the sharp drop in property prices there in recent years. For a house in the Valencia region, for example, a Belgian paid on average €129,448 last year.