Regardless of anti-tourism protests all through Spain over the past 12 months and a troublesome post-Brexit surroundings for potential expats, properties within the southern Mediterranean nation are nonetheless extremely popular with British patrons.
Within the face of those components, overseas patrons of Spanish properties fell by 0.1 p.c within the second quarter of 2024 in comparison with the identical time in 2023, in accordance with property market information from Spain’s Affiliation of Registrars.
In whole, non-Spanish patrons accounted for 14.8 p.c of all property purchasers, down from 14.9 p.c in 2023.
Brits accounted for 8.4 p.c of overseas gross sales – greater than another group – with Germans in second at seven p.c, and Moroccans at 6.1 p.c.
That stated, the variety of Brits shopping for property in Spain is down from the place it was a decade in the past.
In 2014, Brits represented 15.77 p.c of property purchasers, which means it has roughly halved in a decade.
Ferran Font, spokesperson for housing web site Pisos.com, stated within the Spanish press that “evaluating the info for 2024 with that of 2014, we see that the development that continues to be is of British residents being the principle events.”
Nonetheless, he famous that Spain has seen a “diversification of patrons” with extra Moroccans and Romanians shopping for up properties on this decade than in earlier many years.
The prevalence of overseas property homeowners varies by area. Areas in style with vacationers are unsurprisingly the place the vast majority of expats purchase houses.
For instance, the Balearic Islands see a 3rd of all properties purchased by non-Spaniards (33.4 p.c).
Whereas the Canary Islands has 31.1 p.c of its houses purchased by foreigners. Valencia’s determine 28.8 p.c non-Spanish, whereas Murcia’s is 23.6 p.c, Catalonia’s 16.1 p.c and Andalusia’s 13.7 p.c.
“Spain continues to be a really engaging nation for buyers, as these figures present,” Font added.
“Costs, even with their sturdy upward development, proceed to outline a way more aggressive residential supply than in different markets, which permits overseas patrons to behave as a crucial driver.”