Foreign Real Estate Purchases in Spain Surge, Moroccans Lead Buyers

In detail, transactions carried out by foreigners in Spain accounted for 20.3% of total national sales, exceeding the 18.7% recorded between 2012 and 2019. Resident foreigners carried out 54.3% of sales, an increase of 25.3% from one year to the next, compared to 45.7% for non-resident foreigners (+106.1%).

Among resident foreigners, Moroccans and Romanians were the main buyers in almost the entire country, except in Galicia and the archipelagos where German, Italian and Portuguese buyers were the most numerous. The lowest prices per square meter were also paid by Moroccans (694 euros), Romanians (1,097 euros) and Ecuadorians (1,198 euros). The highest average prices per square meter were paid by Danes (2,870 euros), Americans (2,837 euros), Norwegians and Swedes (2,701 euros), Germans (2,657 euros), Swiss (2,567 euros).

By municipality, the sale of housing by foreigners increased in all regions. The Canary Islands are in the lead with 8.6%. They are followed by the Valencian Community with 78%, Andalusia with 62.3%, the Balearic Islands with 50.4%, Extremadura with 42.2%, the autonomous communities of Catalonia with 37.2%, Cantabria with 36.2%, Asturias with 35.1%, Murcia with 32.7%, Galicia with 29.4%, Castilla-La Mancha with 27.1%, Castilla y León with 20.5%. Aragon with 18.6%, Madrid with 17.7%, Navarre with 16.1%, the Basque Country with 14.5% and La Rioja with 14%.