Foreign buyers break new record in home purchases, acquiring 15% of houses sold in 2023

In 2023, foreigners purchased over 87,000 houses in Spain out of a total of 583,000 transactions, representing nearly 15% of the homes sold. This was a record high in the historical series and reflects the increasing demand for Spanish real estate from international buyers.

The latest Real Estate Registry Yearbook shows that the Balearic Islands remain the top destination for foreign buyers, with 31.5% of total home purchases coming from non-Spanish nationals. However, four communities saw a decrease in foreign market share last year.

Despite a decline in the three most common nationalities buying houses in Spain – British, German, and French – three communities in the Mediterranean region saw significant growth in foreign purchases. These include Murcia, the Valencian Community, and Catalonia.

Alicante led the provinces in foreign home purchases, with almost 44% of homes sold to non-Spanish buyers. The British remained the largest group of foreign buyers, followed by Germans and French. However, other nationalities such as Moroccans, Belgians, and Italians also saw an increase in home purchases.

The distribution of foreign purchases points to factors such as tourism, retirement in Spain, and a growing labor market attracting migrants. While nationality plays a role in determining where foreigners buy homes across different regions in Spain.

Sales of homes priced over half a million euros decreased last year despite rising housing costs. Despite this trend, sales continued to be strong overall due to increasing demand from international buyers.

Overall, the real estate market continues to attract foreigners to Spain with diverse nationalities contributing significantly to its growth. Foreign buyers play a significant role in driving sales and shaping market dynamics across different regions in Spain.

By Aiden Johnson

As a content writer at newspoip.com, I have a passion for crafting engaging and informative articles that captivate readers. With a keen eye for detail and a knack for storytelling, I strive to deliver content that not only informs but also entertains. My goal is to create compelling narratives that resonate with our audience and keep them coming back for more. Whether I'm delving into the latest news topics or exploring in-depth features, I am dedicated to producing high-quality content that informs, inspires, and sparks curiosity.

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