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Increased demand among foreigners in the housing market was registered in the last quarter of 2021. At the same time foreign citizens purchased 12.6% of all properties for sale in Spain. And again the British have the top amount of real estate purchases overtaking the Germans. The Balearic Islands, the Canaries and Valencia are the territories with the highest share of non-resident’s ownership.
"During the second half of last year the health situation’s control with increased mobility between countries meant the return of non-residents’ demand, that led to good results," the Association of Real Estate Registrars emphasizes.
According to the registry about 144,000 real estate purchases were made in Spain in the last quarter of the past year. 12.6% of these purchases/18,150 deals were carried out by foreign citizens. At the national level the main buyers were the citizens of the Great Britain (2,219), Germany (1,953), France (1,336), Morocco (1,024), Belgium (983) and Sweden (937).
This information has made British citizens the main group interested in Spanish real estate. But they were losing it to German residents in the third quarter of last year. However, the share of the British in the total deals’ amount made by foreigners reached 12.4% by the end of the year. The German citizens took the second place (10.9%). The top-6 also includes French (7.5%), Moroccans (5.7%), Belgians (5.5%) and Swedes (5.2%).
In separate provinces the largest proportion of property purchases made by foreigners was in the Balearic and Canary Islands (38.9% and 25.9%), in Valencia (24.3%), Murcia (17.5%), Andalusia (13% ) and Catalonia (almost 13%%).
31 regions increased the share of deals made by foreigners. This information is compared with the previous quarter: Alicante (39.3%), Baleares (almost 39%), Malaga (slightly over 30%), Santa Cruz de Tenerife (almost 29%), Girona (27%), Las Palmas (22%), Murcia (17.5%), Almeria (17%), Castellón (over 13%) and Tarragona (12.5%).
“The greatest interest is in coastal areas. Non-residents’ demand had a significant impact on it” the notaries add. “The health situation development and international mobility will affect on demand recovery and growth for housing stock from foreigners in 2022,” they conclude.