British, Moroccan, and German Nationals Lead as American Buyers Pay Top Prices
Spain’s real estate market remains a magnet for international investors in 2025, with foreigners accounting for nearly 20% of free home sales in the first half of the year. According to the latest data from the General Council of Notaries, a total of 71,155 property transactions were carried out by foreign buyers between January and June, marking a 2% increase from the previous year.
Where Are Foreigners Buying Homes in Spain?
Except for four regions—Canary Islands, Balearic Islands, Navarre, and the Valencian Country—foreign purchases rose across all autonomous communities. The strongest growth was observed in Asturias (+30.8%), Castilla y León (+25.9%), and Galicia (+14.3%), showing a shift as buyers look beyond traditional coastal hotspots for new opportunities and value.
Meanwhile, sales dipped in some classic international destinations such as the Canary Islands (-7.7%), Balearics (-6.8%), and Valencian Country (-3.6%), likely influenced by the end of Spain’s “golden visa” program and new tax measures targeting non-resident buyers.
Who Is Buying? And Who’s Paying the Most?
Britons maintained their status as the top buyers, making up 8.1% of all foreign purchases, closely followed by Moroccans (7.9%) and Germans (6.7%). Both resident and non-resident foreigners remain active, with residents accounting for 61% of sales—a rise of 6.4% over last year—while non-residents saw a 4.1% decrease.
When it comes to spending power, American buyers topped the charts, paying an average of €3,465 per square meter, outpacing even Swiss and Swedish investors. The general trend shows non-residents paying more (€3,126/m²) than resident foreigners (€1,912/m²) and Spanish nationals (€1,809/m²), driving up prices, particularly in Madrid (+17.1%), La Rioja (+16.3%), and the Canary Islands (+14.1%).
Trends: Newcomers and Declines
The most notable surges came from buyers in Portugal (+22.8%), the Netherlands (+18.6%), and the US (+14.3%), as well as steady growth from Colombia, Venezuela, Bulgaria, and Ukraine. In contrast, Russian buyers decreased sharply by 17.4%, reflecting broader geopolitical shifts, while Poland, Argentina, and Belgium also saw declines.
Hotspots for International Investors
Among non-resident buyers, the Valencian Country is still the top destination, accounting for nearly 40% of international home sales, followed by Andalusia at 24.2%. For resident foreigners, Catalonia, Andalusia, and Madrid remain highly sought-after locations.
Spain’s Real Estate Appeal Endures
Despite some regional slowdowns and policy changes, Spain continues to attract a diverse range of international property buyers. With Americans and other affluent foreign investors willing to pay premium prices, and new interest in less traditional regions, the Spanish housing market remains dynamic in 2024.
Are you considering buying a home in Spain? Discover the latest trends and insights for foreign buyers and see why Spain’s real estate market continues to shine on the global stage.
