78.8% of the people who bought a second home through real estate agencies in the Valencian Community in 2022 were foreigners, while 70.1% of those who bought a property for investment purposes were also non-Spanish.

However, total second home purchases and those for investment saw a decline from 2021 figures, according to a new regional survey.

That could be due to changes in the domestic market.

The president of the Association of Realtors of the Valencian Community, Nora García, said: “One of the causes of the decline could be high inflation and anything that is considered unimportant, such as second homes, will not be considered until the economy improve. .”

“Pre-pandemic travel habits have been restored and people prefer to travel abroad, instead of buying and going to the same apartment every summer,” García believes.

The main buyer profile of all the properties was that of families with children, who are already owners, but who want to change their home.

They have personal savings and have an average age of 43.4 years.

Buyers of Spanish origin (65.2%) monopolized purchases of permanent residences, followed by those of non-EU origin (18.4%) and those from other EU countries (16.3%).

Regarding second homes, 78.8% of buyers were of foreign origin (44.4% from EU countries and 34.3% from non-EU countries).

The percentage of Spanish buyers who purchased a second residence in the Valencian Community was 21.11%.

On investment purchases in the region, 36.1% of buyers were from non-EU countries, compared to 34% of EU buyers and 29.8% of Spanish buyers.

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By yjawq

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