Foreign Buyers Return to Spain’s Property Market
After a two-year pause, foreign buyers are making a strong comeback in Spain’s property market. As the world begins to recover from the pandemic, we explore where these international buyers are investing in Spanish real estate in 2022 and the price ranges they are considering. A recent study by idealista reveals the Spanish municipalities that are attracting the most interest from different nationalities and their preferences in terms of price ranges.
Property Preferences of Foreign Buyers in Spain
The study analyzed the property search preferences of foreigners traditionally interested in buying in Spain. The focus was on buyers from Germany, France, Morocco, the United Kingdom, Romania, and Sweden in the second quarter of 2022.
German Buyers Favor the Balearic Islands
The Balearic Islands are a top choice for German buyers, with Palma, Calviá, and Llucmajor being the most popular municipalities. In Palma, 45% of Germans were looking for properties under 300,000 euros, while in Calviá, only 27% were looking in this price range, with 46% considering properties over 600,000 euros. In Barcelona, German luxury buyers (above 1 million euros) only accounted for 10%, while almost half (49%) focused on homes under 300,000 euros.
French Buyers Prefer Catalonia
French buyers, due to its proximity to their home country, prefer Catalonia and other urban environments. The most popular municipalities among French buyers are Barcelona, La Moraleja (Madrid), Valencia, and Alicante. In Barcelona, 53% opt for homes for less than 300,000 euros, but in La Moraleja, 95% are looking for properties worth more than one million euros. In Valencia, 80% of French buyers were interested in properties under 300,000 euros.
Moroccan Buyers Seek Properties Below 300,000 Euros
Moroccan buyers primarily focused their property searches in Algeciras, Melilla, and Ceuta, followed by Ocaña and Ferrol. Searches in Algeciras were focused entirely below 300,000 euros, although their budget increases in Melilla (6% between 300,000 and 600,000 euros) and Ceuta (11% in the same range).
British Buyers: From the Coast to Madrid and Barcelona
While British tourists are often seen in coastal areas like the Costa del Sol and Alicante, most property searches by Brits were focused in Madrid and Barcelona. This is followed by the Costa del Sol, with Marbella and Mijas being popular choices. The British in Madrid and Barcelona are mainly looking for properties under 300,000 euros, but in Marbella, one in three (32%) are looking for properties over one million euros.
Romanian Buyers Focus on Coastal Areas
Romanian nationals looking for homes in Spain from their home country are concentrated in coastal areas: Santa Cruz de Tenerife, Castellón de la Plana, Oropesa del Mar, Málaga, and Arona. In all these markets, their preference is practically always for homes under 300,000 euros.
Swedish Buyers Choose Touristy Areas
The Swedish population prefers the most touristy municipalities of the Spanish Mediterranean when buying a property in Spain: Torrevieja, Marbella, Orihuela, Palma, and Mijas. Depending on the destination, there are two profiles of Swedes: in Torrevieja, Orihuela, and Mijas, the population mainly opts for properties under 300,000 euros, while the weight of searches over one million euros increases in the case of Marbella (25% of the total) and Palma (14%).
