About 2% of the real estate purchased by foreigners in Spain last year was bought by Europeans. Thus, Europeans bought more than 1,280 properties.
The share of Europeans among foreigners and the number of purchased properties are two indicators that have been declining in the country since 2012. They are expected to fall even more as a result of sanctions imposed by the West on European business and the financial sector after the outbreak of the conflict between Russia and Ukraine.
According to data collected by Efe based on sources from the Spanish Cadastre Department, during 2021, Europeans bought about 3.5 houses per day. This is barely half of the figures of 2012, when 6.6 houses were bought per day. 3,399 residential properties were sold that year.
The share of European buyers among foreigners in the Spanish market is steadily decreasing. Among foreign buyers, the main category is the British, whose share in 2015 almost reached 25%. They are followed by Germans, French and Belgians.
Ferran Font, Head of Real Estate Portal Research Department, indicates: «The Russian client is very little familiar with the Spanish market».