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The Belgian market displays impressive staying power

number of belgian buyers of homes in spain

When it comes to buying holiday-homes in Spain, the Belgians are in fourth place just behind the French in terms of numbers. So how’s the Belgian market doing in 2023?

Overall Belgian demand in the first half of the year amounted to 3,564 purchases (source the notaries’ association), just a fraction below the same period in 2022, and displaying the best staying-power amongst the top four foreign markets for Spanish holiday homes. Whilst total Belgian demand declined by 2pc in the first half of this year, German demand fell by 26pc in the same period, British by 17pc, and French by 13pc. 

And when it came to the non-resident market, which means the second-home segment, Belgian buyer numbers were down just 3pc compared to 29pc for Germany, 21pc for the UK, and 12pc for France. Though declining like most big markets compared to last year’s boom, the Belgian market has proved to be one of the best at hanging on to gains made during the boom.

The chart below showing total Belgian demand every half using data from the notaries’ association illustrates how Belgian buyers appear to have shifted up a gear in the wake of the pandemic. Demand is settling down at what looks like a significantly higher level than before Covid.

belgian market for property in spain

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