Mark Stücklin
Spanish property sales involving a German buyer declined by 17pc in the first quarter but sales were still significantly higher than in the pre-pandemic period, show the latest figures from the Land Registrars’ Association.
1,457 Spanish home sales involved a German buyer in Q1, down 17pc on the same time last year, but 15pc above the ten-year average, as illustrated in the chart above.
Year-on-year, German demand suffered one of the biggest declines in the first quarter, behind only France and Russia, as shown by the next chart.
The German share of the foreign market fell to 6.8pc (next chart), down from a high of 9.5pc in Q1 of 2022, leaving them in second place behind the British on 9.1pc. German buyers have averaged 7.5pc of the foreign market over the last decade.
Where did they buy? There are no numbers for Q1 to answer that question, but based on Registry data for 2023, more than 50pc of Germany buyers bought in the Valencian region and the Balearics, with the Valencian region taking the top spot for the first time ever.
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