• Thu. Apr 18th, 2024

Rising Foreign Demand: 2023 Spanish Real Estate Market Report

BySamantha Jones

Apr 3, 2024
Foreign buyers break new record in home purchases, acquiring 15% of houses sold in 2023

In 2023, Spain saw a surge in foreign home purchases, with over 87,000 houses sold to non-Spanish buyers out of a total of 583,000 transactions. This was a record high in the historical series and accounted for nearly 15% of homes sold. Despite the decrease in the three most common nationalities buying houses in Spain – British, German, and French – three communities in the Mediterranean region, Murcia, the Valencian Community, and Catalonia, saw significant growth in foreign purchases.

The latest Real Estate Registry Yearbook revealed that the Balearic Islands remained 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. Despite this decline, foreign demand has been a significant factor in the strength of the housing sales market in Spain.

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

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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