People based abroad with a budget of €1m or more searching online for property in Spain are most interested in the Balearics, followed by the Costa del Sol and Madrid, reveals a report from Idealista, one of Spain’s biggest property portal.
Idealista analysed searches of its property sale database conducted by people living outside of Spain looking for a home with a budget of €1m or more and found that 18% of searches were conducted from Germany, followed by 11% in the UK, and 10% in France.
The Balearics was the most popular destination with 29% of all searches, of which 36% were conducted from Germany, 11% from the UK, 8% from France, 8% from the Netherlands, and 5% from Sweden.
Malaga province, home to the Costa del Sol, was next, with 16% of all high-end searches from abroad, led by the British and Swedes with 12% respectively, Germany 3rd with 9%, then the Netherlands 8% and the US with 7%.
Madrid attracted 15% of searches with the most from the US on 18%, followed by the UK 9%, France 6%, Mexico 5%, and Portugal 5%. The large Latin American community in the US might explain the high level of interest in Madrid and other Spanish cities.
Barcelona got 11% of all high-end searches from abroad, with the US first on 14%, followed by Germany, the UK and France on 9%, and the Netherlands on 5%.
Alicante province, home to the Costa Blanca, and traditionally a British stronghold, attracted 8% of big-budget searches led by the Netherlands with 15%, followed by Germany 14%, the UK 11%, France 10%, and Sweden 6%. If you looked at searches below €1m you might find the UK in first place, but Brexit is also reducing British demand.
93% of all searches conducted from abroad with a budget of €1m or more were focused on just 10 out of Spain’s 50 provinces. Also in the top ten were Girona province, home to the Costa Brava, with 4%, the Canaries with 3%, and Valencia with 2%. If you want to sell high-end properties to foreigners, the Balearics and the Costa del Sol are the place to be.