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The number of foreign buyers in Spain continues to grow
International demand for Spanish homes continued to be strong during 2018. 12.6% of all property sales were made by foreigners, increasing from around 61,000 in 2017 to almost 65,500 in 2018, according to the Spanish Property Registry.
Despite the uncertainty due to Brexit, confidence in the Spanish real estate market has not wavered as has been the case since 2012. The breakdown by nationality shows that British buyers continue to dominate, representing 15.5% of the total number of sales by foreigners in Spain. German buyers climbed to second position, accounting for 7.5% and French buyers occupy third place, representing 7.4% of foreign purchases.
In fourth place we found the the Belgians with 6.3% of foreign purchases, and to end up out top 5, we have the Swedish buyers representing 5.8% of total foreign purchases.
Let's focus only on new homes. Let's play a chair game
Sales of new homes by foreigners accounted for 16% of all sales made by international buyers. By nationality, out of total sales. proportionally Belgians (32.8%) bought the most, followed by the Norwegians (25.7%), Swedes (20.5%), Dutch (19.9%) and then the Swiss (19.3%).
Let’s take a look at where and what the top five foreign buyer nationalities look for when it comes to finding their ideal property.
What are British buyers looking to buy?
According to the General Council of Spanish Notaries, the British are buying nearly 10 times more property than in 2008, paying on average €1,621 per square metre. Around 40% of all purchases by the British are on the Costa del Sol and the Costa Blanca, and 12.9% of British buyers purchased a new home.
In 2018 British buyers made up the largest proportion of buyers in Andalucía (which includes the Costa del Sol) (22.5%), Murcia (38.8%) and the Valencian Community, which includes the Costa Blanca, with 17.4%. They represented the second largest proportion in Asturias (7.8%), the Balearic Islands (15.3%) and the Canary Islands (15.9%).
British buyers accounted for 8.5% of the property purchases made by foreigners with a mortgage during 2018, the second largest proportion. The average mortgage by Brits was €179,196.
Just over a third of the British buyers (37.4%) bought properties larger than 100 square metres.
And the German buyers?
According to Notariado, the Germans are buying nearly 6 times more property than in 2008, paying on average €2,065 per square metre.
In 2018 Germans buyers made up the largest proportion of buyers in the Balearic Islands (37.7%) and the third largest proportion in the Canary Islands (13.7%) with Tenerife being particularly popular. 16% of German buyers purchased a new home.
German buyers accounted for 3.7% of the property purchases made by foreigners with a mortgage in 2018. The average mortgage was €244.543.
Over a third of the German buyers (36.8%) bought properties larger than 100 square metres.
French buyers made up the largest proportion of buyers in Catalonia
French clients tend to look for a second home where they can come for weekends and holidays. They are mainly looking to buy new homes (10,7%). Parisian buyers in particular regard Spanish property as an investment and often rent it out.
During 2018 French buyers bought nearly 4 times more property than in 2008, paying on average €1,768 per square metre.
They made up the largest proportion of buyers in Catalonia (20.6%), the second largest proportion in Galicia (7.6%), and the third largest proportion in Cantabria (10%) and Extremadura (4.2%).
French buyers accounted for 5.3% of the property purchases made by foreigners with a mortgage during 2018. The average mortgage was €174,356.
Just under a third of the French buyers (32.7%) bought properties larger than 100 square metres.
Belgian buyers made up the third largest proportion of buyers in Andalucía
In 2018, 32.8% of Belgian buyers purchased a new home, and around 50% of all purchases by Belgians are on the Costa del Sol and the Costa Blanca. They are buying nearly 10 times more property than in 2008, and paying on average €1,777 per square metre.
Belgian buyers made up the third largest proportion of buyers in Andalucía which includes the Costa del Sol (8.1%), Murcia (6.3%), the Valencian Community which includes the Costa Blanca (8.2%). They made up the fourth largest proportion in the Canary Islands (11%).
Belgian buyers accounted for 1.4% of the property purchases made by foreigners with a mortgage in 2018. The average mortgage was €121,128.
A third of the Belgian buyers bought properties larger than 100 square metres.
Swedish buyers made up the second largest proportion in Andalucía
One out of five Swedish buyers purchased a new build home. Swedish buyers, during 2018, made up the second largest proportion in Andalucía which includes the Costa del Sol (10.1%) and the Valencian Community which includes the Costa Blanca (8.9%).
Swedish buyers accounted for 3% of the property purchases made by foreigners with a mortgage in 2018. The average mortgage was €183,557.
Just over a quarter of the Swedish buyers (27.3%) bought properties larger than 100 square metres.
Property Type: Who's the fairest of them all?
Now that we know much more about who are our buyers, where they buy and how, let's take a look into the following board to understand how is the perfect house for each of the top 5 nationalities buying in Spain.
Reach these buyers with ListGlobally
