Property in Spain is enjoying continued popularity from foreign investors. The last quarter of 2021 was full of increases in the number of purchases of houses and flats by foreigners, among whom there was no shortage of Poles.
Increase in property purchases by foreigners
The fourth quarter of 2021 was characterised by a significant increase in property purchase transactions in Spain by non-residents. Statistics collected by El Colegio de Registradores show that in the last three months, foreigners accounted for 12.62% of all transactions, 1.84 percentage points better than the results achieved in the third quarter of last year.
British again with largest market share
An analysis of the data on transactions made shows that, after a brief hiatus (in Q3 2021), the British have regained their title as the nation with the strongest interest in property in Spain, with them accounting for 12.42% of property purchases by foreigners in the last three months of 2021. Germans came second with a share of 10.93%. The top 5 nations buying property in Spain are completed by the French (7.48%), Moroccans (5.73%) and Belgians (5.50%). In the overall ranking, Poles ranked 11th, with a share reaching 1.91%, a 0.32% decrease on the results achieved in Q3 2021.
In absolute terms, the number of property purchases registered by the first five nationalities is as follows:
- British – 2219,
- Germany – 1953,
- French – 1336,
- Moroccans – 1024,
- Belgians – 983.
Representatives of all of the aforementioned nationalities (with the exception of Moroccans) increased the number of purchases compared to the previous quarter, undoubtedly influenced by the revival of cross-border traffic, previously restricted by the pandemic.
The relative control of the health situation in the second half of 2021, together with a marked increase in international mobility, has led to increased interest in Spanish property from foreign investors.
Regional preferences of foreigners – Malaga in the lead
At the regional level, an improvement in foreign demand dominated, resulting in a quarterly increase in the number of purchases made by foreigners of properties in Spain. The highest number of residential purchases by foreigners was recorded in Illes Balears (38.95%), the Canary Islands (25.87%), the Community of Valencia (24.28%), the Region of Murcia (17.47%), Andalusia (13.06% ) and Catalonia (12.72%).
Properties in coastal areas with cities such as Marbella and Estepona were the most popular with foreign investors. The provinces with the highest number of property purchases by foreigners in Q4 2021 were Alicante (39.30%), Illes Balears (38.93%), Málaga (30.64%), Santa Cruz de Tenerife (28.82%), Girona (27.05%), Las Palmas (22.23%), Murcia (17.47%), Almería (17.09%), Castellón (13.19%) and Tarragona (12.54%).
Source: Estadística Registral Inmobiliaria (ERI)
