Registrars record a 1.56% decrease in acquisitions by people of other nationalities in 2021, only behind the Valencian Community
The purchase of homes by foreigners did not take off last year in the Region of Murcia, despite the fact that mobility began to be reactivated after the worst of the pandemic was over. The College of Property, Mercantile and Movable Property Registrars of Spain even notes a slight decline of one and a half points (-1.56%) in acquisitions by citizens of other countries compared to 2020, in the time of greatest impact of Covid.
This is the second largest fall in Spain after the Valencian Community (-2.53%). All in all, it remains among the tourist territories of the country with the greatest weight in the foreign market, since it represents a share of 16.9%, although always behind the Balearic Islands (32.7%), the Canary Islands (23.7%) and the Valencian Community itself (20.8%).
The demand of international clients continued to decline during the last financial year, in general, until accumulating five consecutive years of falls in the relative weight of foreigners in home purchases, which stands at 10.8% as a national average, compared to 11.3% of 2020. This is reflected in the 2021 real estate yearbook of the registrars. In any case, this decrease in the total number of purchases by people from other countries does not correspond to the context of the significant growth at the national level. In this way, in 2021 almost 61,000 operations have been reached compared to 47,500 in 2020.
With regard to prices, it is relevant that of the total home purchases made by foreigners in Spain, 9% presented an amount equal to or greater than 500,000 euros, compared to 7% in 2020. In this cost section, the Region Murcia remains at the bottom in terms of average outlay, with an amount of 102,581 euros. With lower values, only Extremadura (81,102 euros) and Castilla-La Mancha (92,465 euros) appear. On the contrary, the Balearic Islands and Madrid stand out in the ‘ranking’, hovering around 300,000 euros per operation. The national average was around 180,000 euros.
The real estate yearbook marks an average price of 102,581 euros, only higher than Extremadura and Castilla-La Mancha
In relation to the use of the transferred home as an investment asset for sale or as a residence, assessing the average ownership time of its owners until they sold it, the constant increase in the average ownership period continued, reaching 16 years and 5 months in 2021, maximum in the historical series and with an increase of 4.9% compared to 2020.
If analyzed by nationality, it is observed that the British continue to be the majority buyers on Murcian soil, as in the Valencian Community, especially in the province of Alicante, while the Germans predominate in the Balearic and Canary Islands. Overall, four out of ten purchases (40.5%) corresponded to people from non-EU countries, compared to 34.3% in 2020.
little presence of Russians
Within the current international context, the College has analyzed the sales and the evolution of the operations carried out by Russian citizens throughout the country, where it is clear that they continue to have a residual presence in the Region, especially when compared to the autonomy Valencian. In fact, last year barely 14 home sales were formalized by people from Russia, while in the previous year there were 13. On the other hand, the weight of Alicante’s Costa Blanca in this market stands out. In the neighboring province, 691 operations were formalized – more than half of those recorded in all of Spain (1,278) – and they represent up to 41 more than in 2020.
It must be taken into account that the Russians, during the last ten years, show “an ascending evolution as buyers until 2014, the year of the invasion of the Crimean zone, showing a great decrease in 2015”. Later, the slow recovery was broken in 2020 with the health crisis. And, as expected, “the improvement in 2021 will reverse its trend in 2022, due to international sanctions.”
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