In 2023, foreigners bought over 87,000 homes in Spain out of a total of 583,000 transactions, representing almost 15% of homes sold. This was a record level in the historical series, with foreigners holding a larger share of the property market than ever before. Despite a decline in the number of the three most common nationalities buying homes in Spain – British, German and French – three communities in the Mediterranean region, Murcia, Valencian Community and Catalonia, have seen significant growth in overseas purchases.

The latest Real Estate Register Yearbook revealed that the Balearic Islands remain the top destination for foreign buyers, with 31.5% of total home purchases coming from non-Spanish nationals. However, four communities saw a decrease in foreign market share in 2023. Overall, foreign demand was a significant factor in the strength of Spain’s residential sales market, with two consecutive years of growth following a period of decline.

Alicante led the provinces in foreign home purchases, with almost 44% of homes sold to non-Spanish buyers. The British remained the largest group of foreign buyers, followed by the Germans and the French. However, other nationalities such as Moroccans, Belgians and Italians have seen an increase in buying homes in Spain. The distribution of foreign purchases points to factors such as tourism, retirements in Spain and a growing labor market that attracts migrants.

While British dominated the market in Balearic Islands and Germans along Mediterranean coastline regions like Murcia and Valencian community were also popular destinations for international buyers due to its warm weather and affordable cost living options compared to other European countries . The Italians were increasingly active on Canary Islands while French found their dominant position on Catalonia region where many French people moved due to favorable tax laws for them.

Last year saw a decrease sale prices over half million euros despite an increase housing costs which impacted luxury real estate market but still it did not deter international investors from making purchases.

Foreign buyers continue to be an important part of driving sales and shaping market dynamics across different regions throughout Spain as they bring unique perspectives and contribute significantly to local economies through their investments into property markets

By Samantha Johnson

As a dedicated content writer at newspuk.com, I immerse myself in the art of storytelling through words. With a keen eye for detail and a passion for crafting engaging narratives, I strive to captivate our audience with each piece I create. Whether I'm covering breaking news, delving into feature articles, or exploring thought-provoking editorials, my goal remains constant: to inform, entertain, and inspire through the power of writing. Join me on this journalistic journey as we navigate through the ever-evolving media landscape together.

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