The purchase of real estate by foreigners has increased significantly in recent years.
According to an analysis by Idealista, this has led to a sharp increase in transactions and their importance in the national real estate market between 2021 and 2023.
Last year, foreigners accounted for 15% of the total number of property purchases in Spain, compared to 13.8% in 2022, representing more than 87,300 transactions.
In 2022, with a lower share of the total, they exceeded 88,800 transactions, representing the best year in the historical series.
This interest remained unbroken in the first few months of this year.
Foreign demand for real estate reached 14.2% of property sales between January and March, only 0.9 percentage points less than at the end of last year.
Nevertheless, these figures are still well above the usual percentages since 2014, which have been over 12%.
Popular locations for real estate buyers in Spain
Spain remains a sought-after destination for international real estate buyers.
More than half of foreign prospective buyers are concentrated in around 120 locations spread along the Spanish coasts and on the islands.
Of particular note is the Alicante region, which leads the way with around 30 sought-after areas.
Neighborhoods such as Los Frutales in Torrevieja and Playa Flamenca in Orihuela dominate here, where the proportion of foreign buyers is over 60%.
On the Balearic Islands, especially Mallorca, many locations are also in high demand.
Cala Ratjada and Andratx are among the frontrunners, with a foreign demand share of up to 67%.
In the province of Santa Cruz de Tenerife, especially on the island of Tenerife, many communities enjoy great popularity.
Places such as Playa de Fañabé and La Caleta also achieve foreign demand of over 60%.
The Costa Brava in Girona and the Costa del Sol in Málaga are other hotspots for international buyers.
In Girona, the districts of Roses are particularly sought-after, while in Málaga, neighborhoods in Nerja and Estepona are among the most sought-after destinations.
Demand is also high on the Canary Islands, particularly on Gran Canaria and Fuerteventura.
The beaches of Mogán and the areas of La Oliva in particular attract many foreign buyers.
Spain therefore offers a wide range of attractive locations for real estate buyers who particularly appreciate the diversity and beauty of the coastal regions and islands
