The foreign appetite for residential property in Spain was the second-highest on record after the boom year of 2022, confirm the latest figures from the Spanish Housing Ministry.
There were 123,189 homes bought by foreigners in 2023, a decline of 8pc compared to the post-pandemic boom year of 2022, and the second-highest number on record, as illustrated by the chart above.
Overall sales including both local and foreign buyers totalled 638,522 in the year, down 11pc, and the third best year in over a decade. As local demand fell more than foreign demand, the market share of foreign buyers rose to a record level of 19.3pc last year, as illustrated by the next chart.
The Valencian Community was the most popular region with foreign buyers last year, with 39,171 sales, followed by Andalusia (23,247) and Catalonia (18,283).
In the fourth quarter Murcia was the only region to see an increase in foreign buyers (+5pc), whilst the Balearics saw the biggest decline (-16pc).