Surge in Foreign Home Purchases in Spain: Exploring Key Nationalities and Regions
In 2022, home sales in Spain reached record-breaking figures, unseen since the real estate boom. Purchases made by foreigners have significantly contributed to this growth. Here, we introduce the nationalities leading the purchases and the preferred regions for investing in properties in Spain.
British buyers, despite Brexit and the pandemic, top the list of foreign home purchasers in Spain, with 11.07% of the total and nearly 9,700 homes acquired. They are followed by Germans (9.47%) and French (6.97%). Other notable buyers include Belgians (5.21%), Moroccans (5.15%), and Romanians (5.07%).
The most popular regions for foreign home purchases are Alicante, accounting for 23.5% of all foreign home sales in Spain, followed by Malaga, Balearic Islands, and Santa Cruz de Tenerife. In terms of provinces, Barcelona and Madrid also appear on the list, being the third and ninth province with the most operations signed by foreigners, respectively.
When we look at the geographic preferences of each nationality, the British lead in Andalusia and the Valencian Community, while Germans prefer the Balearic Islands and the Canary Islands. The French, on the other hand, opt for Catalonia. In Madrid, Romanians lead the purchases, followed by Moroccans who, along with Romanians, are the most active nationalities in the center and north of the peninsula.
As for luxury properties, foreigners acquired around 9,000 homes valued at over 500,000 euros in 2022. The regions with the highest number of these purchases include the Balearic Islands, Madrid, Andalusia, and Catalonia. Among the nationalities who bought more luxury homes are Belgians, Dutch, and Polish.
In summary, the Spanish real estate market has experienced significant growth in 2022, largely driven by foreign home purchases. The British lead the way, followed by Germans and French, with coastal regions such as Alicante and Malaga being the most popular for property investment.
Source: Idealista News
Article by Dust & Sand Luxury Homes
