The percentage of homes acquired by foreigners in the Canary archipelago barely decreased in 2023 (28.5%) compared to the previous year (28.6%), according to the Association of Property Registrars.
What did change last year is the foreign nationality that occupies the first place in number of acquisitions. If traditionally Germans and British were the largest buyers, in 2023 citizens of Italian nationality took over.
The autonomous communities with the highest percentages of purchases by foreigners, in addition to the Canary Islands, are the Balearic Islands, with 31.7%, followed by the Valencian Community (29.3%) and Murcia (23.8%).
At the national level, the percentage of home acquisitions by foreigners increased in 2023 as it reached 15%. The previous year it was 13.8% of the total.
9.7% of the total purchases of homes made by foreigners had an amount equal to or greater than 500,000 euros (10.1% in 2022). 50.4% of these purchases correspond to non-EU nationalities, compared to 42.3% in 2022.
In the Andalusian provinces, Moroccans and British predominate, and the latter stand out in Murcia and Alicante; Germans predominate in the Balearic Islands; Chinese are the majority foreigners in the province of Barcelona; and the Portuguese in the provinces of Galicia, except Lugo.
Romanians, with 20 provinces, are the most purchasing foreigners, located in many provinces of inland Spain and also in the North. They are followed by Moroccans, with 11 provinces, mainly in the south.