Foreigners buy 1 in 3 houses sold in Canaries

[Cotillo_Tom]

Some of us exchanged our licences before it became a fiasco.  

The 6 month rule after becoming a resident has been around for years, but loads of Brits just ignored it.  

Then the avalanche of applications plus COVID meant folk just could not get appointments.  That's when the fiasco started, but if you 'did the right thing' in the first place, it was very simple. 

Another 'benefit' of Brexit.

[TamaraEnLaPlaya]

Exactly Tom, thank you.

But I don't call a self-inflicted problem a fiasco!

[TamaraEnLaPlaya]

Noticias:

In the archipelago it is the community where the sale of housing in the Spanish state rebounded the most in 2022.

The sale of homes in the Canary Islands closed 2022 with 31,126 transactions, 26.94% more than the previous year, which is the largest rebound in the country, according to provisional data from the Real Estate Transaction Statistics of the Ministry of Transport, Mobility and Urban Agenda.



At the national level, 717,558 transactions were registered, 6.42% more than in 2021, and reached the highest level of operations since 2007, when 836,871 were registered. In the fourth quarter, 173,804 sales were recorded, 2.96% more than in the previous quarter, although with a fall of close to 10% in year-on-year terms, explains in its edition of today's Diario de Avisos.



By autonomous communities, all have accompanied the national upward trend, except Madrid, where sales fell by 0.7% in 2022, to 90,406 operations, and Cantabria, with a contraction of 2.77%, to 9,411 operations.



There were also decreases in the autonomous cities of Ceuta and Melilla, with a fall of 5.79% and 7.83%, with 618 and 647 transactions, respectively.



On the opposite side appears the Canary Islands, with a rebound in sales of 26.94%, to add 31,126 operations in 2022. There were also double-digit increases in the Valencian Community, where 113,252 transactions were made, 14.37% more than the previous year.



By type of housing, new construction concluded 2022 with 67,725 sales, 5.71% less than the previous year, according to provisional data from Mitma. However, second-hand real estate transactions climbed 7.87%, to 649,833 operations in 2022.



Despite the general fall in new housing transactions, Aragon, Asturias Balearic Islands, Canary Islands, Castilla y León, Extremadura, Murcia, Basque Country and La Rioja, nine communities in total, stood out from this trend, with increases of between 0.69% and more than 30%.



The largest increases, in year-on-year terms, occurred in Extremadura, with 35.25% more and a total of 541 operations, and in Aragon, with an increase of 34.78%, to 2,011 new construction transactions. The autonomous city of Ceuta also recorded an increase of 59.09%, with 35 new construction transactions.



The most pronounced falls in new housing real estate transactions in 2022 were observed in the Community of Madrid, with a decline of 22.18%, to 10,964 operations, followed by Galicia, with a decrease of 21.63%, to 1,938 sales, and Cantabria, with 835 operations, 21.37% less than the previous year. In Melilla, new housing transactions plummeted by 33.83%, to 131 sales.



In the case of second-hand housing, the national increase of 7.87% was driven by autonomous communities such as the Canary Islands, with a rise of 27.5% and a total of 29,075 sales of used housing, or the Valencian Community, with a rebound of 16.06%, to 103,118 operations.



Second-hand sales only fell in three communities. In Cantabria, 8,576 transactions were made, 0.48% less than the previous year; in the Basque Country, 21,805, with a decrease of 0.49%; and in La Rioja, 4,680 sales of used housing, 0.36% less. In addition, in the autonomous city of Ceuta there was a fall of 8.04%, with 583 sales of used housing.

link to article for nice pic of El Cotillo