Record number of Belgians buying property in Spain

Belgians are taking full advantage of the low real estate prices in Spain. In the first three months of 2014, 1,057 Spanish homes were sold to Belgians. That's about 27% more compared to the same period in 2013, which was also a record year, writes Het Nieuwsblad.

According to the Association of Spanish Notaries, 81,000 properties were sold in Spain in the first quarter of this year. Some 15,000 of them (18%) were sold to foreigners, of which 1,057 houses to Belgians. "If this trend continues, it will easily break Belgium's record from last year," says the association, “when a total of 3,804 houses, villas and apartments were sold to Belgians.”

The dramatic increase is due to a number of factors, not the least of which is the current rock-bottom cost of real estate in Spain; for €120,000 one can buy a holiday home, an apartment for €180,000 or a villa for €290,000.