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Foreign investors return to Spain

Thu 7th Apr 2011

Overseas buyers of property in Spain increased by 2.9% last year.

This growth amounted to 3.75 million euros, after a slump of 31.5% was seen between 2008 - 2009.

Foreign buyers of Spanish property peaked in 2003 with 7.07 million euros being spent, and then declined to 6.650 million in 2004, 5.495 million in 2005, 4.716 million in 2006.

A brief resurgence came in 2007, with foreign investment of property reaching 5.341 million euros, representing an increase of 13.3% increase on the previous year.

2009 saw the worst figures for foreign property investment seen in over 10 years.

Spain's Minister for Public Works, José Blanco, plans to tour a number of European countries later this month, where he will highlight the vast range of unsold coastal properties to would-be investors.

He is expected to address guarantees with regards to the legal security of any Spanish properties.

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