Foreign buyers break new record in home purchases, acquiring 15% of houses sold in 2023

In 2023, foreigners purchased over 87,000 houses in Spain out of a total of 583,000 transactions, representing nearly 15% of the homes sold. This was a record high in the historical series, with foreigners holding a larger share of the real estate market than ever before. Despite a decrease in the three most common nationalities buying houses in Spain – British, German, and French – three communities in the Mediterranean region, Murcia, the Valencian Community, and Catalonia, saw significant growth in foreign purchases.

The latest Real Estate Registry Yearbook revealed that the Balearic Islands remained the top destination for foreign buyers, with 31.5% of total home purchases coming from non-Spanish nationals. However, four communities saw a decrease in foreign market share last year. Overall, foreign demand has been a significant factor in the strength of the housing sales market in Spain, with two consecutive years of growth after a period of decline.

Alicante led the provinces in foreign home purchases, with almost 44% of homes sold to non-Spanish buyers. The British remained the largest group of foreign buyers followed by Germans and French. However, other nationalities such as Moroccans, Belgians and Italians saw an increase in home purchases last year. The distribution of foreign purchases points to factors such as tourism retirement migration and growing labor markets attracting migrants from different countries around Europe and beyond.

While Brits dominated

By Riley Johnson

As a content writer at newsmol.com, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

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