In 2020, home purchases by foreigners in Spain reflected significant changes due to global circumstances. This report reveals that interest in the Spanish real estate market remains robust, although a drop in the number of purchases was observed due to mobility restrictions and the economic impact of the pandemic. Despite this, average prices per square metre continued to rise, especially in areas of high demand by foreigners, such as the Balearic Islands, the Valencian Community and the Costa del Sol. This increase in prices underlines the resilience of the sector and its attractiveness for the foreign market.
The analysis also shows that the British, French and Germans led the way in home purchases, although each nationality has different geographic and property type preferences. Higher-income nationalities tend to buy homes in tourist areas and at high prices, while others, such as citizens of Romania and Morocco, prefer less expensive locations and smaller properties.
Another notable aspect is the evolution of the profile of buyers, with an increase in the percentage of foreigners residing in Spain, in contrast to the decrease in non-resident buyers. This indicates a change in the nature of demand, favouring greater stability in the market.
This report is essential to understand the evolution of foreign demand in Spain, providing data that allows professionals in the sector to adjust their strategies and predict trends. The ability of the Spanish market to adapt to the changing needs of foreign buyers is presented as a key factor for the future of the real estate sector in the country.
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