Foreigners are buying more and more houses in Spain

Over the past year, foreigners have bought more homes in Spain than ever before. In particular, international investors bought around 48,000 homes, which is 13% more than the total sales. The biggest buyers of Spanish property are residents of the UK. Last year, their purchases accounted for 21% of the total amount of homes.

At the same time, residents of Germany and Sweden are also very interested in investing in Spanish real estate and their purchases amounted to 6% and 7% of the total. Chinese citizens, who increasingly prefer investing in Spain, accounted for just over 4% of the total. All these investments are fundamental to explain the strong increase in housing prices.

Sun, quality of life and fresh sea air are some of the main reasons that encourage foreigners to buy property in Spain. Coastal properties are the areas that concentrate the majority of transactions. The Valencian Community is the most popular and sought after by buyers. It is here that 29% of residential properties are bought in relation to the Mediterranean coast of Spain. Andalusia, Catalonia and the Canary Islands are also in great demand.

The increase in sales is also reflected in the luxury property market. In this regard, Mallorca is popular among such investors. It is a favorite destination for foreign buyers who are betting on this area of the Mediterranean for their real estate investments.