Russians no longer have interest in real estate in Spain

Russians no longer have interest in real estate in Spain

Investor activity from Russia decreased by 33% in Q2 2024 compared to Q2 2023.

What happened?

According to information from the Association of Registrars, Russian citizens demonstrated the most significant decline in attraction for foreign investors. French investors rank second in declining activity (-24%), with Ukrainian citizens showing increased interest in Spanish real estate (+7%).

Furthermore, Spanish registrars published data for the first six months of 2024. Over 43,000 real estate deals were conducted with foreign buyers in the country over a 6-month period marking a 6% decrease compared to the same period in 2023.

Regarding the data for Q2 2024, British citizens were the foreign buyers who were the most active, with investors from Germany and France closely following behind. On the other hand, Russia holds the 11th position. Investors from the USA, Poland and Ukraine saw the biggest rise in demand in Q2 2024, with increases of +21%, +13% and +7%, respectively.

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