The property boom is long past. What we are now seeing in the sector is a period full of optimism. In fact, 2018 was the best year for the housing market since the financial crisis with 604,000 registered sales. But this is not all down to Spanish buyers; many foreigners also decided to buy one or more homes in Spain last year. Foreign demand accounted for almost 13% of purchases in Spain that year.
The climate and quality of life attract foreigners to coastal areas
Whether it is the climate, the beaches, the quality of life or our dynamic property market, the fact is that foreigners are buying more homes in Spain than ever before.
In the first six months of last year, foreigners bought 53,359 homes in the country, 5.6% up on the same period the previous year, according to data published by the General Board of Notaries. That is the highest figure since notary statistics began in 2007.
The highest sales were in Alicante and Malaga, the regions with the most attractive Spanish cities for foreigners looking to buy property. The excellent climate, good air connections with coastal provinces and a high quality of life attract buyers from all around the world to Spain’s Mediterranean coast. Next up are the Balearic Islands and the two largest Spanish cities: Barcelona and Madrid. But which foreigners buy the most homes in Spain?
The British still buy the most homes in Spain
The British are the leaders here. In 2018, they continued to be the nationality that invests most in our country, ahead of the French and Germans, who have been alternating second and third place for years.
As far as foreign buyers are concerned, the British and French lead in 13 of the 17 Spanish regions, particularly in the Valencian Region, Andalusia and Catalonia. Germans buy mainly on the islands and the Chinese in Madrid.