Foreign buyers break new record in home purchases, acquiring 15% of houses sold in 2023

Surge in Foreign Home Purchases in Spain: Top Destinations, Nationalities and Trends

Foreigners have been increasingly purchasing homes in Spain, with over 87,000 transactions last year representing nearly 15% of the homes sold. Despite a decrease in the three most common nationalities buying houses in Spain – British, German, and French – three communities in the Mediterranean region saw significant growth in foreign purchases. The latest Real Estate Registry Yearbook revealed that foreign buyers hold a larger share of the real estate market than ever before.

The Balearic Islands remain the top destination for foreign buyers, with 31.5% of total home purchases coming from non-Spanish nationals. However, four communities, including the Balearic Islands, saw a decrease in foreign market share in 2023. Overall, foreign demand has been a significant factor in the strength of the housing sales market in Spain, with two consecutive years of growth after a period of decline.

Alicante led the provinces in foreign home purchases, with almost 44% of homes sold to non-Spanish buyers. The British remained the largest group of foreign buyers, followed by Germans and French. However, other nationalities such as Moroccans, Belgians, and Italians saw an increase in home purchases in Spain. The distribution of foreign purchases points to factors such as tourism, retirement in Spain, and a growing labor market attracting migrants.

While Italians were increasingly active in the Canary Islands and Germans along the Mediterranean coast

Leave a Reply

The advanced Danish warship faced multiple weapon issues while confronting the Houthis Previous post Modern Warships Face Technical Challenges in the Red Sea: The Case of Denmark’s Iver Huitfeldt and Germany’s Sachsen
Eating from 5 Food Groups Can Aggravate Rheumatoid Arthritis Next post The Key to Effective Rheumatoid Arthritis Management: A Guide to Dietary Changes