The Spanish real estate market has demonstrated considerable strength. Proof of this is the number of foreign homebuyers, having steadily grown in recent years. In 2024, they accounted for 14.6% of all purchases, according to data from the Association of Property Registry Offices.
How Foreigners Purchased Homes in 2024
In 2024, nearly 637,000 home sales were recorded in Spain, representing a year-over-year increase of just over 9%. Foreigners made 93,000 of these purchases.
Purchases by Nationality
Citizens of the United Kingdom, Germany, and the Netherlands lead in home purchases, followed by Moroccans, French, and Romanians.
There is a slight difference depending on whether the foreigners are residents or non-residents. In the case of residents, Moroccans have taken centre stage in home purchases, followed by Romanians and Italians. Regarding non-residents, the British, Germans, Dutch, Belgians, and French are at the top.
Most Popular Areas
Foreign homebuyers are uneven across Spain, primarily concentrated in tourist areas and large cities.
Alicante is the province preferred by citizens from other countries. In effect, it accounts for more than 24% of foreign homebuyers. Following behind, although far behind, are Malaga, Barcelona, Murcia, Madrid, Valencia, and the Balearic Islands.
In this regard, there are differences between residents and non-residents, with residents predominating in Barcelona, Madrid, and Valencia. On the other hand, non-residents prefer provinces such as Alicante, Malaga, and the Balearic Islands.
Housing Prices
Home buying preferences also vary depending on the type of property. Non-residents prefer more highly valued areas and, therefore, homes with higher prices per square metre, around €2,900. Meanwhile, residents prefer more affordable homes with average prices under €1,800 per square metre.
The Impact of the End of the Golden Visa
In 2013, the Golden Visa was approved, allowing non-EU residents to obtain residence permits in Spain provided they made significant investments, in the case of home buying, with a value of more than €500,000.
In these twelve years, more than 15,000 Golden Visas have been granted, especially to citizens from China, Russia, the United Kingdom, and the United States. In Spain, April 3rd marks the date the Golden Visa will expire.
It is difficult to predict the effect on the real estate market. However, we don't expect a high impact, as this type of real estate investment has been scarce, representing a very low percentage of foreign homebuyers.
Nevertheless, if you are looking for a house in Spain, whether a habitual residence or an investment, Spainhouses.net brings together the best property listings. Don't wait to go to our browser and find the home you're seeking.