Costa del Sol property sales, rentals & management

Foreign demand for Spanish property up 13.4%

Foreign demand for Spanish property up 13.4%

December 13, 2017

A recent report released by the Association of Spanish Notaries reveals double digit growth in foreign demand for Spanish property during the first six months of 2017 with British buyers dominating in traditionally favoured regions.


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Notaries in Spain recorded 50,087 property sales to foreign purchasers during the first half of this year, an increase of 13.4% compared to the same period of 2016, which represents the highest number since foreign buyer data was first published in 2007.

Sales to foreign buyers accounted for 19.4% of all Spanish property sales between January to June of this year. The report points out that demand from foreign buyers has been nearing 20% for the last five years, the increasing demand from local home hunters is the only reason the market share for foreign purchasers has not increased.

Expats already living in Spain were responsible for 53% of all purchases made by foreign buyers, amounting to 26,546 in total, whereas 46% (23,540 homes) went to non-resident purchasers, an increase of 22% compared to 2016.

All of Spain’s 17 autonomous regions registered growth in demand, however it was the regions with the least number of foreign home buyers witnessed the greatest percentage increases. La Rioja registered 75% growth and Navarre 44%, closely followed by Castile and Leon with 39%, whereas regions with traditionally high foreign buyer numbers such as Andalucía and the Balearic Islands registered smaller gains of 5.4% and 5.3% respectively.

Despite a 16.4% decline in British demand post Brexit, UK buyers still account for the highest number of the foreign market with 13.9% of all purchases. French buyers were responsible for 8.8% of purchases, Germans 8.2%, Italians 7.7% and Romanians 6.9%.

Foreign buyers were most dominant in the Canaries accounting for 42.3% of all home purchases, followed by the Balearics (37.7%), Valencia (35.5%), Murcia (26.9%) and Andalucía (19.4%).

In terms of demand from non-residents, British buyers took first or second position in Andalucía, Murcia, Valencia and the islands, along with Galicia and Asturias where Brits account for 20% or more of the market. French buyers also come in first or second in seven regions including Catalonia, Navarre and the Basque Country, all of which border France, along with La Rioja, Castille & Leon, Castille la Mancha and Extremadura.

When it comes to demand from expats already living in Spain, British buyers are still dominating in the traditional favourites of Andalucía, Murcia and Valencia whilst taking the second spot in both the Canaries and Balearic Islands. So although British demand for Spanish property may have declined following Brexit, it has not been enough to knock it off the top spot.