2017 saw many records broken in Spain in relation to tourism and the real estate market. Now, figures from the Association of Registrars shows the number of properties sold to foreign buyers also broke records.
During 2017, foreign buyers bought more than 61,000 homes in Spain, mostly in the coastal provinces and the islands. According to data from the College of Registrars, foreign buyers acquired 13.11% of all properties sold throughout the year. British, French and German buyers made up the majority.
Compare this to 2009 when only 16,480 property sales were to foreign buyers.
The number of sales the 54,000 sold in 2016. However, due to a lower number of sales, the weight of foreign buyers in 2016 made up 13.25% of sales.
“Foreign demand was not only a relevant factor in the recovery of the Spanish real estate market, being one of the main sources of buyers before the financial crisis, but, in the process of recovery, with an increase in purchases and prices, foreign demand continues to grow actively,” according to the registrars.
The British continue to lead the table of foreigners who decide to buy a house in Spain, representing 15.01% of the transactions made by foreign citizens. Also prevalent are French (8.64%), German (7.77%), Belgian (6.39%) and Swedish buyers (6.38%).
Where Foreigners Buy (4th Quarter data)
The attractiveness of housing in Spain for foreigners is of course linked to the sun and the beach. Therefore, the coastal provinces, especially in Mediterranean coastal areas and the islands, are those that have a greater weight of transactions with foreign buyers.
With data from the fourth quarter, in the absence of detailed annual figures, up to five provinces saw foreign buyers make up more than 30% of total operations and up to 14 regions marked double digits in the number of sales to international buyers at the close of year: they were Alicante (42.47%) Tenerife (38.75%), the Balearic Islands (35.40%), Girona (32.59%) and Malaga (31.83%).