Scandinavian countries are keeping an eye on the coast of the region: Norwegian and Swedish investors are buying up houses in Spain

The impacts of the coronavirus pandemic over the past year around the world have not made the Murcia region, or rather its coastal zone, less attractive to foreigners, who continue to look at the 11,313 square kilometers of the region when it comes to buying a house.

A good example of this is that Murcia is the fourth community at the national level with the highest proportion of foreigners buying and selling housing. One in five out of 18.1% of transactions is made by foreigners. The region is second only to such tourist giants as Balearic Islands (24.3%), Canary Islands (21.2%) and Valencian Community (19.4%). This is reflected in the statistics of the Spanish Association of Registrars for the first quarter of this year.

In terms of major customers, the British are still in the lead, followed by the Belgians. The Nordic market is gaining momentum: Norwegians and Swedes are increasingly interested in investing in the Costa Calida.

According to data obtained by the portal specialized in housing cooperatives LACOOOP regarding foreign investment in the country, the majority of foreigners wishing to invest in the real estate sector come from Norway (32%) and Sweden (15%).

Spanish regions with the greatest capital appeal are Alicante and Murcia, and the most sought-after type of property is a detached house with three bedrooms, pool, terrace and an average budget of 250,000 euros.

“Climate, views and proximity to the beach and shopping areas are the factors that investors from abroad pay the most attention to when looking for housing,” explains Monica Abril, head of LACOOOPEstudios.

The sector accepts this predisposition of foreign buyers with hope, as Murcia Plaza has recently reported. The Regional Federation of Entrepreneurs (Frecom) reported that in 2020, foreigners completed two out of every ten house sales transactions.

Data from the Association of Registrars through its Center for Statistical Processes also shows that new houses recorded a 1.75 point increase in the weight of sales and purchases, accounting for 21.82% of the total in the first quarter, with a 19.96% breakdown for new vacancies and 1.86% for new sheltered housing.