Investment in housing by foreigners in Spain continues to consolidate as an essential pillar of activity, which is already at record levels with 21% of total operations in the first half of the year.
The autonomous communities with a greater weight of purchases by foreigners in the third quarter were the Balearic Islands (31.7%), Valencian Community (29.4%), Canary Islands (28.2%), Murcia (24.8%), Catalonia (16.3%) and Andalusia (16%), according to the information handled by the registrars.
At the provincial level, the highest percentages were in Alicante (43.7%), Santa Cruz de Tenerife (36.6%), Malaga (35.3%), Balearic Islands (31.7%), Girona (30.8%), Murcia (24.8%) and Las Palmas (20.8%).
Although the number of sales of foreigners decreased by 7.5% in the semester to 67,983 operations, this decrease has been more notable in the case of Spaniards in a context marked by successive increases in interest rates that have led to an increase in financing. Consequently, the weight of foreigners has not only not been affected, but has increased.
In addition to the record that notaries confirm in their weight within the sales market in the first half of the year, registrars indicate that, based on the data they handle, in the third quarter the purchase of housing by foreigners represented 15.4% of the operations, its second best quarter since there are records, in the heat of the months with more tourist influx.
And, according to the information processed by the Association of Registrars, the purchase of housing in Spain by foreigners had not reached such a high percentage in a quarter since 2022, when between July and September it reached almost 16% (15.92%).
Swedes, those who pay the most for their house in Spain
The average price paid by all foreigners was in the semester in 2,094 euros/m2, 1.3% more than a year earlier.
The highest average prices per square meter were paid by Swedes (3,036 euros/m2); Danes (2,930 euros/m2); Americans (2,921 euros/m2); Swiss (2,812 euros/m2); Germans (2,724 euros/m2) and Norwegians (2,584 euros/m2).
Buyers from Russia, France, Italy, the Netherlands, Belgium and Ireland also exceeded the average price paid by all foreigners.
The lowest prices were paid by Moroccans (689 euros/m2); Romanians (1,086 euros/m2) and Ecuadorians (1,335 euros/m2).
British, Germans and Moroccans, on the podium of operations
The British continued to lead home purchases in the first half of 2023 with 9.6% of the total (6,498). They were followed by Germans (8.1%) and Moroccans (7.3%).
After them, among the foreigners who bought the most homes in Spain, the French, Italians, Romanians and Dutch also stand out.
The group of nationalities that includes the rest of the foreigners from outside the EU accounted for 12.8%, according to notaries.
Between January and June, the largest increases were recorded by Russians (50.2%) and Ukrainians (41.6%), coinciding with the war, and Americans (13.6%).
What areas do they prefer?
The British, the most prominent in Spain, opt for Andalusia, the Valencian Community and, to a lesser extent, Murcia, according to the registrars.
The Germans, for their part, prefer Catalonia, the Balearic Islands, the Canary Islands, the Valencian Community and Andalusia. The French go mainly to Catalonia, and after it to the Valencian Community and Andalusia.
Moroccans have Catalonia, the Valencian Community, Murcia and Andalusia among their first options, while Italians opt for Catalonia and the Valencian Community, and Belgians mainly choose the latter and after it Andalusia.
On the contrary, the communities least demanded by foreigners to acquire a home were Extremadura, Galicia and Castilla y León, where they did not reach even 2%.
