Moroccan Buyers Lead Surge in Foreign Real Estate Purchases in Spain

According to data from the General Council of Notaries, Moroccans bought 5,159 homes in Spain, compared to 4,614 for the British and 3,770 for the Romanians. In the first half of this year, home purchases by foreigners increased by +74.8% for Moroccans, 75.1% for Germans, and +90.2% for the Swiss.

To read: Moroccan Buyers Surge in Spanish Property Market Despite Pandemic

Among resident foreigners, Moroccans and Romanians have acquired the most homes across almost the entire peninsula, except in Galicia and the archipelagos. In detail, Moroccans made 50% of home purchases in Murcia, 40% in Extremadura and 34% in La Rioja. Romanians made 33% of home purchases by foreigners in Castile-La Mancha and Aragon.

To read: Moroccan Buyers Lead Foreign Home Purchases in Spain’s Aragon Region

The average price per square meter of transactions made by foreign buyers in the first half of 2021 was 1,863 euros, an increase of 4.1% year-on-year. In contrast, non-resident foreigners paid the highest amounts for their homes, an average of 2,452 euros/m²; while the average for residents was 1,498 euros/m².

To read: Moroccan Buyers Fuel Surge in Spanish Property Purchases Amid Price Drop

Furthermore, Moroccans paid the lowest average price per square meter for their homes, at 640 euros. Romanians made their purchases at 967 euros/m², and Ecuadorians at 984 euros/m². By region, home purchases saw a significant increase in the Balearic Islands (11.0%), Andalusia, Galicia, Madrid and Navarre (5.8 to 6.3%). More moderate increases were recorded in the Valencian Community (2.5%), the Canary Islands (2.2%) and the Basque Country (0.7%).