A recent report has said that despite a slowdown in property sales in Spain, the real estate industry in the province of Granada is steady. This is largely due to foreign buyers, namely British and Germans.

The president of the Granada Real Estate Association (Aingra) is quoted this week as saying, “They are keeping the industry going. They don’t try to push the price down and trust the professionals to do their job”

According to the association up to a third of all properties sold in the province of Granada are bought by foreigners. These are concentrated in areas such as La Alpujarra, the Costa Tropical, the Lecrín Valley and Baza. Because of this there has been an explosion recently of non-Spainsh owned estate agents who are benefiting from this phenomenon, whilst their Spanish counterparts lag behind.

However don't think that foreigners are snapping up property in Granada province as soon as it comes onto the market. What is actually happening is that sales to Spanish buyers have dropped considerably while overseas buyers continue to buy at a steady rate.