Foreign demand for Spanish property in 2018: who, where, and how much?

spanish property market
Non-resident foreign demand (left) Resident foreign demand (right). Source: Notaries

The break down of foreign demand by nationality, region, budgets, and residency status, according to the latest report from the Association of Spanish Notaries, published last month.

Last week I explained how overall foreign demand and budgets for property in Spain retreated in the second half of 2018. This week I’ve prepared some graphs to illustrate how foreign demand changed by nationality, region, budgets, and residency status. I’ll let the charts do the talking.

First though, I’ll explain the map above, prepared by the notaries. The map on the left shows purchases by non-residents by nationality and region, giving the first two nationalities by region, and their percentage of foreign demand. So, for example, the British were the biggest group of non-resident foreign buyers in Andalusia, with 32% of the market, followed by the Swedes, with 11%. By definition, non-residents are buying second homes or investments, rather than main homes to live in. The map on the right shows the same but for foreign residents in Spain, mainly economic migrants from Romania, Morocco, and China, though also with some lifestyle migrants from the UK in Andalusia, Murcia, and the Costa Blanca, and Germany in the Balearics and the Canaries.

Now to the charts.

spanish property market

spanish property market

spanish property market

spanish property market

spanish property market

SPI Member Comments

Thoughts on “Foreign demand for Spanish property in 2018: who, where, and how much?

  • Thank you Mark for another fantastic informative article. Quick question:

    Are these stats for individuals buyers only or do they include purchases by companies? If the latter, would the company be considered foreign via its registered office or percentage ownership?

    I guess this is more of a general question related to the stats normally released by the notaries or INE and not specifically this particular set of date.

    • Mark Stücklin says:

      The truth is I don’t know how they deal with companies, both local and foreign. I assume they don’t count homes bought by companies in these figures. It’s something I’ve been meaning to find out for ages.

  • It would be great to know Mark. Maybe that would finally explain why the data from the Notaries never matches INE?

    This is of course always true in the case of price increases but do both entities report the same number of sales? If not, I suspect the notaries don’t include “legal persons” in these data.

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