The 2023 Spanish housing market report reveals a slight drop in property purchases by foreigners, with 87,340 transactions, 1.7% less than the previous year, although with a market share of 15%, the highest in the historical series. Purchases by resident foreigners have increased, representing 55.4% of the total, while those by non-residents have decreased, reflecting a trend towards remaining in Spain.
Among the autonomous communities preferred by foreigners, the Valencian Community, Andalusia and Catalonia stand out, with the Balearic Islands and the Canary Islands having the highest proportion of foreign purchases in relation to the regional total. As for prices, the average for homes purchased by foreigners was €2,095/m², with marked differences between residents (€1,676/m²) and non-residents (€2,598/m²).
By nationality, the British, German and French are leading the purchasers, although the British have experienced a considerable decline compared to previous years. The report also highlights a change in the profile of buyers, with an increase in interest from countries such as Romania and China, and a growth in mortgages taken out by foreigners, despite a slight decrease in the average amount. These data underline the continued importance of foreign demand in the Spanish real estate sector and the adaptation of this market to new global dynamics.
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