Foreigners bought 94,460 properties in Spain in 2022, a new record!
How many properties where bought by foreigners in 2022?
The total amount of properties sold in Spain in 2022 are 646,741 and for the foreigners 94.460 which makes up for 14,60% of the total sold/purchased in Spain !
During the last quarter of the year, home purchases by foreign buyers remained high, although there was a decrease in the percentage of purchases compared to the previous quarter, which had an all-time high. Specifically, 14.71% of home purchases were by foreigners, which represents a quarterly decrease of 1.21%.
Total purchases and sales by foreigners in 2022 by quarter
For example only between June and September 2022, foreigners bought 26,728 homes in Spain, (Association of Registrars) which represents 15.92% of the total number of registered sales and purchases, and what seems to be a new record in this sector.
Historical data on sales to foreigners in recent years
Which nationalities are these foreign investors from?
As far as nationalities of the foreign investors it is worth observing a rise in the diversification, never observed before. The British are no longer the only prominent buyer in Spain, however the statistics show that the foreign investors have grown among other “atypical” nationalieties and altough the British still represent the highest percentage of foreign buyers, they are buying less than ever, due to Brexit. – For example, the British accounted for almost 24% of sales to foreigners in 2015, whereas now it is more divided between other european nationalities.
The highest weights during the fourth quarter were recorded in absolute terms by the British (2,376), Germans (2,018), French (1,409), Romanians (1,114), Belgians (1,073), Italians (1,060), Moroccans (1,054) and Dutch (1.015).
In terms of the fastest growing “atypical” nationalities, the fastest increases were recorded in the following nationalities close to the war situation: Poles 3.86% and Ukrainians 1.81%.
These figures show the evolution that practically all of them (except the British) are at their highest levels in recent years.
Graph over nationalities purchases in 4th Q 2022
Graph with the evolution of foreign buyers by nationality
(source; Association of Registrars, chart showing purchases by foreigners from the 4th trimester 2022)
Which are the most popular places for foreigners to buy property in Spain?
When it comes to where in Spain foreigners choose to buy houses, the 3 main provinces were Alicante, Tenerife and Málaga in the fourth quarter of the year 2022.
Alicante (42.94%), the Balearic Islands (36.15%), Malaga (34.05%), Santa Cruz de Tenerife (32.55%), Girona (31.12%), Las Palmas (22.15%) and Murcia (21.87%).
Graph over purchases by foreigners in the 4th Q 2022 per Province
The autonomous communities that have registered the largest share of foreign purchases during the fourth quarter were the Balearic Islands (36.15%), Comunitat Valenciana (28.47%), the Canary Islands (27.25%), Region of Murcia (21.87%), Catalonia (15.58%) and Andalusia (14.70%).
Graph over purchases by foreigners in the 4th Q 2022 per Autonomous Region
(source; Association of Registrars)
Finally we can say that 2022 has been a year of intense real estate activity, however economic uncertainty given the the global and local economic environment may affect housing demand and financing conditions, which may have a significant impact on the real estate market in the future.
Do not hesitate to consult us if you have any questions about the current market and whether this is a good time to invest in a property in Spain.
Our team is always ready to inform you about all the legal complexities when it comes to buying a property in Spain!
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
