Moroccans lead foreign real estate purchases in Spain

Some 69,412 homes were acquired by foreigners in Spain in the first half of 2024, an increase of 1.8% compared to the same period last year. By nationality, Moroccans are in the lead with 5,452 homes purchased during the period, or nearly 7.9% of the total transactions made by foreigners. Since 2016, Moroccans have been second, just behind the British with 8.4%, and ahead of Germany, third with 6.8%.

Italians follow with 4,332 transactions at the end of June, Poles (3,105) and Ukrainians (2,058) whose volume has increased by 70% in two years, coinciding with the outbreak of the war with Russia. Americans (1,363), Irish (1,186), Colombians (1,073) and Portuguese (921) complete the list. Since 2016, nationals of Ireland, Italy, Poland, Portugal and Ukraine in Europe, or the United States and Colombia in North and South America, or Morocco in Africa, have set sales records.

According to notary data, sales by foreigners increased by 28.5% compared to 2023 for Poles, 20.8% for Ukrainians, 19.8% for Colombians, 12.7% for Americans, 12.4% for Irish, 11.7% for Chinese and 11.3% for Moroccans. On the other hand, sales fell among Russians (-24.2%), Norwegians (-17%), French (-15.5%), Bulgarians (-10.8%), Belgians (-8.8%), Germans (-8%), Venezuelans (-8%) and British (-7.1%).

Regarding prices per square meter, the lowest were paid by Moroccans (738 euros), Romanians (1,158 euros) and Bulgarians (1,281 euros). As for the highest, they were paid by Swedes (3,330 euros), Americans (3,247 euros/m²), Germans (3,114 euros), Norwegians (2,969 euros) and Swiss (2,966 euros). The average prices (2,249 euros) were paid by Russians, Poles, Irish, French, Dutch, Belgians, Italians and British.