Barcelona the 'frontrunner' in Spanish property market

Individuals looking for property in Spain are likely to be interested in news that Barcelona is outperforming the rest of the country in terms of real estate sales.

The latest Barcelona Property Market Report for the final six months of 2010 indicates that the market in Barcelona is acting quite independently from the rest of Spain, Property-Abroad reports.

Released by Lucas Fox International Properties, the research shows that the majority of homes in the city are being purchased by Spanish citizens.

Just ten per cent to 15 per cent of transactions involved foreign buyers, something which is completely different from the rest of the Spanish market - especially popular resorts in the Costa del Sol, the news provider adds.

The majority of overseas buyers in the Barcelona property market are coming from Europe, Russia and the USA and Barcelona's provincial region receives around 34 per cent of all foreign investment in Spain.

Like this? Then share with your friends and colleagues!