Lloret de Mar Real Estate: Analysis of the Spanish Real Estate Market
Trends in Foreigners’ Home Purchases
We will delve into the current trends shaping the acquisition of properties by international buyers, closely analyzing the emerging trends that are shaping the foreign real estate market. From investment patterns to buyer preferences, we will explore the highlights of home purchases by foreigners. Join us on this journey to discover how these dynamics are influencing the global real estate landscape.
As we have mentioned in previous articles, the Spanish real estate market has undergone a significant change in recent years, with a significant increase in the participation of foreign buyers. According to recent data compiled by the College of Registrars, 14.98% of home purchase transactions in 2023 were made by foreigners, marking the highest point in the historical series and representing an annual increase of 1.23 points. Although the absolute number of foreign transactions decreased slightly compared to the previous year, with around 87,400 transactions compared to over 88,000 in the previous year, the relative weight of international buyers remains significant.
This sustained growth in foreign demand over the past few years consolidates its importance in the Spanish real estate market, as highlighted by experts at the College of Registrars. For a decade, the participation of foreign buyers has remained above 10%, demonstrating their fundamental role in the strength of the housing market in Spain.
Nationalities and Destinations Preferences in Property Purchases
Regarding the origin of foreign buyers, the British top the list with 9.53% of the total operations, followed by Germans (7.27%), French (6.66%), Moroccans (5.39%), Belgians (5.32%), Italians (5.23%), and Romanians (5.03%). This varied landscape reflects the diversity of nationalities interested in acquiring properties in Spain.
In terms of preferred destinations, the Balearic Islands (31.7%), the Valencian Community (29.3%), the Canary Islands (28.5%), and Murcia (23.8%) stand out as the regions with the highest real estate activity among foreign buyers, thanks to their tourist appeal.
At the provincial level, Alicante (43.95%), Santa Cruz de Tenerife (35.73%), Malaga (33.71%), Balearic Islands (31.5%), and Girona (29.86%) are the areas with the highest concentration of foreign home purchases. It is interesting to note that in Andalusia, Moroccan and British buyers are predominant, while Germans lead in the Balearic Islands and Italians in the Canary Islands.
Types of Homes Demanded by Foreign Investors
Regarding the type of housing demanded, foreign investors show a slightly lower preference for new homes compared to Spanish buyers, opting for them in 15.8% of cases. Regarding price, 9.7% of operations carried out by foreigners equaled or exceeded 500,000 euros, although this figure has experienced a slight decrease compared to the previous year. Additionally, more than half of foreign transactions (50.4%) involved non-EU nationalities, reflecting a diversification in the origin of buyers.
In terms of financing, the average mortgage for foreign buyers stood at 157,637 euros in 2023, representing a 7.8% decrease compared to the previous year, marking the first decrease after nine consecutive years of increases.
As we have mentioned in previous articles, the Spanish real estate market continues to attract considerable interest from foreign buyers, whose presence and participation are fundamental elements for understanding the current dynamics of the sector.
In La Casa Das Haus Immobilien Spanien, we take pride in our long-standing experience of over 25 years in the real estate market. Why are we the best choice to assist you in the trends of home purchases by foreigners? Because behind every successful transaction, there is a committed and passionate team striving to make our clients’ dreams come true. We know the market like the back of our hand and are dedicated to understanding your unique needs. Whether you are looking for your first home abroad or a lucrative investment, we are here to guide you every step of the way with expertise, empathy, and professionalism. At La Casa Das Haus, we don’t just sell houses, we make dreams come true!
