Overview of Foreign Home Purchases in Spain
Foreigners are increasingly purchasing homes in Spain, particularly in the Mediterranean arc and both archipelagos. The latest report from idealista reveals that over 100 districts and neighbourhoods in these Spanish coastal towns have seen foreign demand account for more than half of the total interest in buying a home. These locations are popular for their sun, beach, and relaxation offerings.
Top Locations for Foreign Home Buyers
Notably, locations such as Roses (Girona), Calpe (Alicante), and Andratx (Balearic Islands) have seen foreign demand exceed 65% of the total number of searches and interactions on the real estate portal. The nationalities that stand out in these searches are French, Dutch, and German. There are 120 locations where foreigners show the most interest in buying a home in Spain.
Foreign Buying Trends in Spain
Foreign home buying has been strong in recent years. Between 2021 and 2023, there have been sharp increases in transactions and their significance within the national property market. In the last year, foreigners represented 15% of the total number of home purchases in Spain, exceeding 87,300 transactions. This interest remains strong in the first few months of this year, with foreign demand for housing reaching 14.2% of property sales between January and March.
Preferred Locations for Foreigners to Buy in Spain
Foreigners’ demand for home purchases is concentrated in coastal locations, especially the Levante, from the Costa Brava to Cadiz, and both archipelagos. Over 120 locations in various towns, districts, and neighbourhoods in up to seven different provinces on the Spanish coast and islands account for more than 50% of foreign buying interest. Alicante province has the largest number of locations where foreign demand exceeds 50% of the total demand.
Foreign Interest in Balearic Islands and Santa Cruz de Tenerife
The Balearic Islands have 28 locations that attract up to 67% of foreign demand, such as Cala Ratjada or Canyamel, in Mallorca. Santa Cruz de Tenerife province has 23 of the 120 most sought-after locations in total, most of these are on the island of Tenerife.
Foreign Interest in Girona, Malaga, and Las Palmas
Girona, Malaga, and Las Palmas provinces each have 12 favourite destinations for foreigners, attracting more interest than Spanish demand. These represent the destinations preferred by foreigners, such as the Costa Brava, the Costa del Sol, and the Canary Islands.
Most Frequent House Hunters in Spain
For the first time in a long time, the British are not leading the demand for foreign homebuyers in Spain. Visitors from Germany are the most prominent among the 120 areas analysed, being the nationality most interested in buying in 55 of them. Sweden and the Netherlands also show great interest, particularly in Alicante, Malaga, and Granada.
Other Nationalities Showing Interest
The French are most prominent in the areas of Girona, while Italians prefer the Canary Islands as a destination. The British have the highest foreign demand in the areas of Manilva, Estepona, and Gualchos in Granada. Demand from Poland and Lithuania has been particularly strong in certain areas, as has demand from Norway in Patalavaca, in the town of Mogán in Gran Canaria.
Conclusion
Data compiled and analysed by idealista/data, idealista’s proptech, provides information for a professional audience to facilitate strategic decision-making in Spain, Italy, and Portugal. It uses all the idealista database parameters in each country and other public and private data sources to offer valuation, investment, recruitment, and market analysis services.
