Second home sales to non-residents plunge 59% in 2008, but sales in Teruel explode

The number of foreigners buying a second home in Spain collapsed in 2008, falling by 59% to a measly 3,691 sales, according to the latest statistics from the Ministry of Housing. Compared to 2006, when non-residents bought 17,212 second homes in Spain, sales were down by a whopping 79%, giving investors a chance to observe how risky the overseas property investment game really is. Andalucia, home to the Costa del Sol, the Costa Tropical, and the Costa de Almeria, was still the most popular r