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Where are foreigners buying properties in Spain in 2022?

09 Nov
2022
4.9/5 - (9 votes)

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Where are foreigners buying properties in Spain in 2022?

Which nationalities are active? Are they residents or not? Which nationalities are buying Real Estate in Spain? What price do they pay?

 

 

Europeans are buying properties in Spain as never: 137,000 properties bought by foreigners. Of course, we see many Europeans active as usual and the United Kingdom is still the first country to buy properties in Spain. A new trend is that we see foreigners coming from further: Latin America with Argentina and Venezuela, America and China are there too. Americans are benefitting from a steep discount: the euro is cheaper by 20% in 2022 vs the dollar.

A quick reminder before starting this interesting subject, please remember that if you want to buy a property in Spain, you need an NIE number, read our detailed article for more information: Your ultimate guide to your Spain NIE number – NIE Spain. Another interesting article we would recommend: How to buy a property in Spain as a foreigner? At Howtobuyinspain.com we have the best experts in our network to assist you everywhere in Spain. As you will see in this article, we have the best tools and database to know where the market is and what are the trends. Thanks to that, we help our customers to make the best deals in Spain.

As for all our articles, in this article, you will find interactive charts showing detailed data with a mouse click on it and we have static charts available for download. Please note that our interactive charts have always the most recent data as they are linked to our databases. Of course, our static charts are regularly updated.

 

 

1. Which nationalities are buying properties in Spain?

The Statistical Information Center of Notaries in Spain has just released its last report on Foreigners’ activity in the property market.

 

What was the activity in the Spanish real estate market up to June 2022?

  • 703,331 property transactions for the last 12 months: +18% yearly growth 
  • property activity by Spaniards increased by 13% year-on-year to 562,956
  • property activity by foreign buyers increased by 47% year-on-year to 136,921
  • This equals 19% of all the property transactions that occurred in Spain.
  • 45% of the transactions were carried out by non-resident foreigners and 55% by foreigners living in Spain!

 

Spaniards and Foreigners are very active: both are buying the most since 2008:

Quarterly statistics of the “Ministerio de Fomento”.

 

Which are the most active nationalities within the EU buying properties in Spain?

For the last 12 months to the end of June 2022, the most active nationalities were :

  • the British  with 11.2% of the property purchased by foreigners in Spain,
  • the Germans with 10.3% of the property purchased by foreigners in Spain,
  • the French with 8% of the property purchased by foreigners in Spain,
  • the Romanians with 6.7% of the property purchased by foreigners in Spain,
  • the Italians with 5.9% of the property purchased by foreigners in Spain,
  • the Belgians with 5.2% of the property purchased by foreigners in Spain,
  • the Dutch with 4.9% of the property purchased by foreigners in Spain,
  • and the Swedish with 4.2% of the property purchased by foreigners in Spain,

 

Check our foreigners’ profiles and buyers guides: What are the ideal Spanish properties for Belgians  Chinese Dutch English French Germans Italians Moroccans
Romanians Russians Swedish
?

 

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Most active nationalities outside the EU buying real estate in Spain

The proportion of purchases was also high by foreigners outside the EU:

such as Morocco (7.7%), China (2.6%) or Russia (2%), America (1.6%) and other countries outside the EU 11.2%

 

If you want to live in Spain, have a quick check at our interesting article on the Golden Visa: Golden Visa in Spain: Your ultimate guide!

Don’t forget to hedge your currency smartly if you are buying from outside the European zone.

 

 

 

Here you go, a quick check of all the nationalities:

Here is the same info reproduced with a pie chart:

Source: Centro de Información Estadística del Notariado de Espana

 

Which nationalities are buying more properties during the last 12 months to June 2022?

Of course, Europeans are very active in the property market in Spain. Most Europeans come from northern countries. A more recent trend we noticed at howtobuyinSpain in 2022 with many new customers flowing in: Americans are buying actively everywhere in Spain, thanks to the weak Euro vs Dollar. Yes, the Euro lost 20% this year, not bad for Americans looking for bargains. Have a look at our paper written by our property hunter in Madrid for more on that: Americans are buying properties in Madrid.

Here are the countries increasing the most their property purchases in Spain in 2022 vs 2021 (last 12 months to June):

  • Netherlands +101%
  • Germany +81%
  • Ireland +95%
  • Norway +72%
  • Denmark +70%
  • USA +69%
  • Sweden +66%
  • Switzerland +62%
  • Argentina +45%
  • France +41%
  • Belgium +36%
  • UK +36%
  • China +31%

Source: Centro de Información Estadística del Notariado de Espana

Which nationalities are less active during the last 12 months to June 2022?

All countries have a positive growth

 

Here is the evolution of the purchases done by each nationality since 2008

 

 

This was the situation end of 2016 when we wrote this article for the first time: we keep the same top 3 nations.

Who are the foreigners buying real estate in spain? Infographic

Foreigners living in Spain are more active

  • Foreigners living in Spain recorded 74,643 operations, 26% more than one year before.
  • Non-resident foreigners bought 62,278 properties, an increase of 84% year-on-year.

 

This is quite a strong vote of confidence by foreigners living in Spain! Of course, they work there and it is easier for them to buy than non-resident foreigners. Covid had its impacts: people wanted to remote work from a nice place if they could: Spain is a nice option. Others wanted to enjoy a better quality of life: more space, more sun, a better quality of life… while of course, the cost of living in Spain is much lower than in many places in the world and in Europe. For more on that, read our articles: Which are the cheapest cities to live in Spain? The cost of living in Spain vs the UK, Relocate to Spain? Spain is one of the best countries in the world for relocating and for working remotely.

 

1. Best Professionals 2. Follow up 3. Competitive pricing 4. Partners 5. Qualitative Check

 

Check our chart analyzing who is more active in the Spanish property market: Foreigners or Spaniards with the evolution since 2007 (the year before the crisis):

 

 

 

2. Where are foreigners buying properties in Spain?

 

What are the main regions in Spain where foreigners are buying real estate?

Transactions Percent of total Evolution
Valencian Community 38071 28% 59%
Andalusia 28362 21% 20%
Catalonia 20404 15% 31%
Canary Islands 10878 8% 65%
Madrid’s community 9744 7% 74%
Illes Balears 8685 6% 43%
Murcia 6672 5% 15%
Castilla la Mancha 3401 2% 24%
Aragon 2138 2% 36%
Castilla y León 2104 2% 61%
Basque Country 1456 1% 27%
Galicia 1380 1% 19%
Asturias 986 1% 21%
Navarre 879 1% 29%
The Rioja 648 0% 21%
Cantabria 592 0% 15%
Estremadura 472 0% 15%

 

 

Same info in a downloadable format:

Source: Centro de Información Estadística del Notariado de Espana

 

What is the evolution of each region in Spain during the last 12 months to June 2022?

Check the property transaction growth for each region in Red (right scale) with the number of transactions in Blue (left scale)

 

Most active regions – The biggest activity of foreigners vs Spaniards?

According to the “Colegio de Registradores de la Propiedad”, the Autonomous Communities with a greater weight of foreigners’ transactions vs Spaniards in the fourth quarter of 2021 are

  • The Balearic Islands with 39% of all transactions,
  • The Canary Islands with 26% of all transactions,
  • The Valencian Community with 24% of all transactions,
  • Murcia with 17% of all transactions,
  • and Andalusia with 13% of all transactions.

Check our interactive chart on that:

 

Most active cities where foreigners are buying the most real estate in Spain vs Spaniards?

According to the “Colegio de Registradores de la Propiedad”, the cities where foreigners are the most active (vs Spaniards) in the fourth quarter of 2021 are:

  • Alicante
  • The Balearic Islands
  • Malaga
  • Tenerife
  • Girona
  • Murcia
  • Almeria
  • Las Palmas
  • Castellon
  • Tarragona
  • Barcelona
  • Lleida
  • Valencia

Check our interactive chart on that:

Source

Which Spanish regions are the most popular for which nationalities?

We did the ranking for the 12 most active countries in Spain.

 

Check the evolution of the foreigners’ activity per region since 2007:

Remember the infographic we did on the subject last year, it remains nearly the same in 2018!

Where are foreigners buying in spain? Infograhic

 

3. What price do foreigners pay to buy a property in Spain?

 

Check the evolution of the price paid for each Spanish region since 2007 by foreigners:

The average price per square meter of properties bought in Spain by foreigners increased by 2% year-on-year to June 2022. The acceleration of real estate prices was recorded both among property transactions done by non-residents and by residents, although the former paid higher prices than the second ones, € 2,522/ m² against € 1,622 / m², respectively (with an average of € 2,062/ m²)

This price discrepancy between foreigners living in Spain and not living in Spain could come from many factors:

  • Non-residents are buying top-notch second homes in more expensive locations: expensive cities and premium areas with sea views and large terraces for instance. They are going for the best properties on the market.
  • Non-residents who are buying a second home in Spain are wealthy and have a higher budget from start.
  • Non-residents are buying newbuild properties in Spain and newbuild properties are more expensive than resale,
  • Some new “resident foreigners” relocate to Spain because of the high quality of life in Spain and the low cost of real estate in Spain. So they are looking to start a new life they can afford and will go for low-cost properties inland. Read more on that in our article: Which are the most expensive and cheapest cities to live in Spain?

You can check the evolution of the price per square m paid by foreigners (resident or not in Spain) and Spaniards (resident or not in Spain) since December 2007 (the year before the crisis) on this chart:

 

In terms of levels, the average price per square meter paid by foreigners continued to register strong differences between each region. End of June 2022, it was below the national average
of € 1,741 in 12 of the 17 Regions. Please note that the average paid per square meter by foreigners is € 2,062.

Regions under €1,000:

Extremadura, Castilla-La Mancha, La Rioja, Castilla y León, Aragón and Galicia.

Regions between € 1,000 and the national average paid by foreigners for real estate €1,741

Murcia, Asturias, Navarra, Cantabria and the Valencian Community

Regions above the national average for properties in Spain € 1,741

  • The Canary Islands €2,195,
  • Catalonia €2,249,
  • Basque Country €2,230,
  • Madrid €2,893,
  • and Baleares €3,894.

 

Interestingly, all those regions are areas of interest to foreigners apart from the Basque Country, a region much appreciated by the French.

Let’s have a closer look at current property prices (value written in Blue on the chart) and at the price evolution (left scale) for each Spanish region for one year. The regions are Alphabetically sorted.

As you can see from the chart we just showed: prices are increasing everywhere.

 

Spanish regions with the fastest increasing prices over the last year to June 2022

Percent change on the last year Price per region Region
34% €543 Estremadura
27% €1,087 Asturias
19% €1,081 Murcia
17% €2,893 Madrid’s community
16% €867 Aragon
14% €1,564 Valencian Community
13% €2,195 Canary Islands
11% €1,105 Cantabria
11% €2,062 National
10% €2,249 Catalonia
10% €2,126 Andalusia
10% €965 Galicia
8% €3,894 Illes Balears
7% €673 Castilla la Mancha
4% €674 The Rioja
3% €2,230 Basque Country
2% €1,181 Navarre
1% €733 Castilla y León

Spanish regions with decreasing prices over the last year

  • None

 

If you want to read more on the subject and you missed our paper of last semester: Which are the top 10 Spanish cities where foreigners are buying properties NOW? And don’t miss our property buyers guide written for any foreign country.

 

 

Source: Read the full paper in Spanish here.

 

Who are the foreigners paying the most in Spain for their properties?

As of June 2022, here is our alphabetical ranking of real estate prices paid by foreigners in Spain:

  • People from Argentina pay on average 1759 € per square meter for their properties in Spain.
  • People from Belgium pay on average 2104 € per square meter for their properties in Spain.
  • People from China pay on average 1741 € per square meter for their properties in Spain.
  • People from Denmark pay on average 2870 € per square meter for their properties in Spain.
  • People from Ecuador pay on average 1198 € per square meter for their properties in Spain.
  • People from France pay on average 2149 € per square meter for their properties in Spain.
  • People from Germany pay on average 2657 € per square meter for their properties in Spain.
  • People from Ireland pay on average 2092 € per square meter for their properties in Spain.
  • People from Italy pay on average 2103 € per square meter for their properties in Spain.
  • People from Morocco pay on average 694 € per square meter for their properties in Spain.
  • People from the Netherlands pay on average 2252 € per square meter for their properties in Spain.
  • People from Norway pay on average 2701 € per square meter for their properties in Spain.
  • People from other countries in EU pay on average 2148 € per square meter for their properties in Spain.
  • People from other countries in the world (outside EU) pay on average 2015 € per square meter for their properties in Spain.
  • People from Portugal pay on average 1782 € per square meter for their properties in Spain.
  • People from Romania pay on average 1097 € per square meter for their properties in Spain.
  • People from Russia pay on average 1989 € per square meter for their properties in Spain.
  • People from Sweden pay on average 2701 € per square meter for their properties in Spain.
  • People from Switzerland pay on average 2567 € per square meter for their properties in Spain.
  • People from the UK pay on average 2003 € per square meter for their properties in Spain.
  • People from Ukraine pay on average 1612 € per square meter for their properties in Spain.
  • People from the USA pay on average 2837 € per square meter for their properties in Spain.

Here is our downloadable infographic on that:

Source: Centro de Información Estadística del Notariado de Espana

Of course, there are many reasons to explain those differences:

  • The region where those nationalities are buying on average,
  • The location of the property: sea view? countryside? within a city?
  • The type of properties: villa or apartment, newbuild or resale, with terrace or plot or not,…

So, those are just “statistics” but they are interesting as price discrepancies between foreigners are quite big when foreigners buy properties in Spain.

 

4. How to start your property search in Spain?

Here is our A to Z must-read guide: Our ultimate 2022 guide to buying your property in Spain.

At HTBIS, we assist foreigners with their property search in Spain thanks to our network of local partners: legal advisers, tax advisers, property hunters and much more. Discover all our partners here.

 

Looking for an expert in Spain? Ask us directly!

Stéphane 

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

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FAQ

Who buys the most property in Spain?

For the last 12 months to the end of June 2022, the most active nationalities were : the British (11.2%), the Germans (10.3%), the French (8%), the Moroccans (7.7%), the Romanians (6.7%) the Italians (5.9%), the Belgians (5.2%) the Dutch (4.9%) and the Swedish (4.2%)

Are people still buying property in Spain?

Activity is back on the real estate market in Spain: both Spaniards and foreigners are buying now: 703,331 property transactions for the last 12 months: +18% yearly growth property activity by Spaniards increased by 13% year-on-year to 562,956 property activity by foreign buyers increased by 47% year-on-year to 136,921 This equals 19% of all the property transactions that occurred in Spain. 45% of the transactions were carried out by non-resident foreigners and 55% by foreigners living in Spain!

Is it wise to buy property in Spain now?

As of June 2022, price per square meter was on average of €1,741 per square meter. So, if you compare to other EU countries, you get a lot for your money and can enjoy the high quality of life in Spain

Are British people still buying property in Spain?

For the last 12 months to the end of June 2022, the most active nationality is the British with 11.2% of the properties purchased by foreigners: i.e. 15,353 properties. And actually, they were the first nationality even before during and after the Brexit. 🙂

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