Foreigners bought 87.365 properties in Spain in 2023, reflecting strong interest!

How many properties where bought by foreigners in 2023?

2023 has witnessed vibrant real estate activity in Spain, marked by the notable participation of international buyers. With 583,042 total sales recorded this year, the Spanish market continues to demonstrate its attractiveness and resilience.

Following the Covid period, sales increased by 12% from 2019 to 2021, and subsequently rose by an additional 14% from 2021 to 2022. The year 2023 served as a period of adjustment, with total sales decreasing by 9%, a trend considered typical following the peak achieved in 2022.

Sales to foreigners in 2023

Of these, 87,365 sales were made to foreigners, representing a significant share of the market. (15.12%)

Despite a slight dip compared to the previous year, (-7,5%) this figure highlights the enduring confidence and interest in Spanish real estate.

Total purchases and sales by foreigners in 2023 by quarter

 

Historical data on sales to foreigners in recent years

In the wake of the pandemic, the recovery of foreign sales was initially slow but eventually surged by 50% between 2019 and 2022, mirroring the broader market’s resurgence. However, 2023 has been characterized as a year of recalibration, with foreign purchases decreasing by 7.5%—a trend that aligns with expectations after the previous year’s peak.

Amidst this backdrop, the 87,365 properties acquired by international buyers, which constitute 15.12% of all sales, underscore the significant and sustained interest in Spanish real estate. This modest contraction from the preceding year does not detract from the overall confidence and appeal that Spanish properties hold for foreign investors, highlighting the market’s enduring strength.

Which nationalities are these foreign investors from?

Notably, the British, along with Germans, French, and Belgians, have once again led the charge, painting a picture of a market that’s as diverse as it is dynamic.

Belgian buyers deserve special attention, whose acquisitions grew by 1% compared to the previous year, highlighting an upward trend in their investment in Spanish properties.

The highest weights during the fourth quarter were recorded in absolute terms by the British (1.924), Germans (1.437), French (1.190), Romanians (1.094), Belgians (1,080), Italians (940), Moroccans (1,041) and Dutch (1.019).

Graph over nationalities purchases in 4th Q 2023

Graph with the evolution of foreign buyers by nationality

(source; Association of Registrars, chart showing purchases by foreigners from the 4th trimester 2023)

Which are the most popular places for foreigners to buy property in Spain?

As we look to the regions that have captured the hearts of international buyers, Alicante and Malaga stand out, their charm undiminished by time. These areas, along with the vibrant communities of the Balearic and Canary Islands, remain the jewels in Spain’s crown, offering a blend of lifestyle and investment potential that’s hard to match.

Graph over purchases by foreigners in the 4th Q 2023 per Province

(source; Association of Registrars)

Alicante (44.34%), the Balearic Islands (35.63%), Malaga (34.34%), Santa Cruz de Tenerife (33.49%), Girona (27.70%), Las Palmas (26.63%), Murcia (21.87%), Almería (20.86%) and Las Palmas (20.48%)

Graph over purchases by foreigners in the 4th Q 2023 per Autonomous Region

(source; Association of Registrars)

The autonomous communities that have registered the largest share of foreign purchases during the fourth quarter were the Balearic Islands (35.63%), Comunitat Valenciana (29.39%), Region of Murcia (26.63%), the Canary Islands (26.53%), Catalonia (15.94%) and Andalusia (15.12%)

Looking ahead, the Spanish property market’s trajectory remains promising. Amidst the changing tides of global finance and politics, Spain’s steady market and the unwavering interest from foreign shores signal a future of growth and opportunity. At Fuster Associates, we’re more committed than ever to navigating these waters with you, offering insights and guidance tailored to your unique journey through Spain’s property landscape.

For those pondering the leap into Spain’s property market or seeking to understand its nuances further, our door is always open. Let’s explore what the future holds together.

 

We want to help you navigate all the legal complexities that comes to buying or selling a house in Spain, but this article is legal information and should not be seen as legal advice.

 

Foto: freepik.es