Home buyers of foreign origin have carried out 30.7% more real estate transactions than in 2019, almost double those carried out by Spanish buyers in the same period (17.7%).
This way, Foreigners bought 125,857 homes in the first nine months of 202418.4% of the total, according to a study by CaixaBank Research prepared using data from the Ministry of Housing and Urban Agenda.
Among buyers of foreign origin, Purchases by non-resident foreigners experienced a strong rebound in 2021, and especially in 2022, much higher than that of residents and Spaniards, after having fallen more sharply during the Covid-19 crisis (-30.2%).
With the increase in interest rates, Sales decreased for all types of buyer in 2023. However, the decrease was more moderate for resident foreigners (-4.7%) than for non-residents (-12.9%) and Spaniards (-11.6%), since the rate increase has coincided with a very significant migratory wave that is driving the purchase and sale of housing by resident foreigners.
Non-residents buy more expensive housing and in cities
The study also shows that non-resident foreigners purchase homes with a higher price per square meter, with an average of 2,895 euros/m2, than residents and Spaniards, with an average of 1,734 euros and 1,659 euros, respectively.
By area, they are mainly concentrated in tourist areas (archipelagos and the Mediterranean arc) and urban areas (especially Barcelona and Madrid), with Alicante as the province with the most foreign buyerssince they account for approximately half of the total sales, and where non-residents have a great role (68.6%).
As for nationalities, the main non-resident buyers come from European countries, with the British, Germans, Dutch, Belgians and French leading the way, accounting for 48.5% of the total).
Among resident foreigners, Moroccans were the main buyers in the first half of 2024, followed by Romanians and Italians, leading the share of sales in most of the autonomous communities, with the exception of Galicia and Madrid, where the Portuguese and Chinese, respectively, were the nationalities with the highest number of sales.
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