The British are the ones that carried out the most operations in the second half of 2021, with prices that rose in all communities, especially in Cantabria and Andalusia
Foreigners return to buy houses in Spain. After the great slowdown experienced in 2020 and the first half of 2021 due to the outbreak of the pandemic and the consequent ban on most trips, the real estate market recovers the vigor of 2019. The data published by the General Council of Notaries reveals that In the second half of 2021, the sale of homes by foreigners increased by 41.9% compared to the same period a year earlier, returning to its usual market level.
Notaries recognize that this large rise is due in part to the comparison with the collapse experienced in 2020 (-37% in the first half of the year and -11% in the second), but if the number of operations carried out by foreigners is faced with the totals at the national level, it is 18.6% of them, a figure very similar to the average records between 2012 and 2019 (18.7%), according to the agency’s records.
Specifically, 63,934 free home sales transactions were carried out by foreigners between July and December 2021, almost 42% more than in the same period of 2020. Foreigners residing in Spain bought almost 55% of the total of these houses, while the other 45% were non-residents, which is 64% more than in 2020. It should be noted that non-residents paid a higher amount (2,480 euros per square meter) than foreign residents (1,567 €/m2 ) and than nationals (€1,503/m2).
The ones that carried out the most operations were the British, who returned to their first position, with 12% of the total sales, 7,560. After them, the Germans (10.4% share) and the French (8.3%).
The French bought the most houses in Castilla-La Mancha and Castilla y León, Aragón, Cataluña, Extremadura, the Basque Country and Navarra. For their part, the Germans mainly bought homes in the Canary Islands, the Balearic Islands, Cantabria and Galicia. And the British did it in Andalusia, Murcia and the Valencian Community.
In addition, the prices paid by foreigners rose in all communities except Extremadura, where they remained stable. The case of Cantabria stands out, where there was the greatest increase (24%) and Andalusia (16.6%). They are followed by Madrid (13.7%), the Canary Islands (11%), Castilla y León (10%) and the Valencian Community (10%).
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