Spanish property market ‘to become more transparent’

The Spanish property market is aiming to become more transparent, with steps being taken to report more accurate statistics on home ownership in the country.
 
Mark Stucklin, of Spanish Property Insight, said that it was a “step in the right direction,” adding that one of the biggest problems with the market is the lack of available data on foreign demand.
 
It is thought that foreign buyers represent roughly 13% of the market.
 
Mr Stucklin pointed to incorrect government statistics as fuelling the lack of true transparency in the Spanish property market.
 
He explained that the Spanish government publishes official data that claims that the majority of foreign property owners live in Spain but that the opposite is true, with most investors buying second homes and living out of the country.
 
Mr Stucklin said that correct data and reporting would make it more appealing and easier for investors to get involved in the market. He added that with more transparency, foreign investors would be offered properties better suited to their needs.