Spain is a country that welcomes many international buyers, attracted by its favorable climate and culture. The reason for buying homes abroad is mainly tourism and in areas with lots of sun and close to the coast and its beaches.
According to the statistical report of the second quarter of 2020 of Registrars of Spain, the College of Property Registrars, the real estate market of international buyers is dominated by the British (12.25%), the Germans (7.18%), followed by Romanians (6.90%) French (8.38%).
While the purchase of foreign properties continued to grow in 2019, the pandemic slowed its development in 2020. Indeed, between the first and second quarters of 2020, the results show a downward trend in foreign real estate investment due to mobility restrictions and the economic consequences of the health crisis.
However, although impacted, the Spanish real estate market continues to attract foreigners seeking a residence in Spain.
Purchases of homes by foreigners according to nationality (%)
The data shown in this graph show a decrease in the number of purchases of Britons in recent years and an increase in the proportion of other nationalities.
If geographic data are observed, the three most attractive autonomous communities for foreign buyers are the Balearic Islands (24.63%), the Canary Islands (24.54%) Valencian Community (21.70%).
Finally, it should be noted that residential demand for tourism purposes has been increasing since the third quarter.