Luxury property demand in Spain is being driven by foreign buyers and middle-aged professionals according to a new report.
Foreign buyers in the driving seat
According to a new report by the property firms Fotocasa and Infinitum, a growing share of luxury homebuyers in Spain are international clients, with many coming from the US, Belgium, and the Netherlands. This group includes retirees, but also a significant number of professionals who can work remotely and only need to return home occasionally for meetings. In other words, digital nomads with money to spend.
Middle-aged demand strongest
The same report finds that luxury homes are proving most popular with buyers in the 46–55 age group, who account for 37% of the demand. They are followed by buyers aged 56–65 (26%), and those between 36–45 (24%). Younger buyers (23–35) and older ones (66–81) each represent around 7% of the market. In short, prime homes in Spain are largely the preserve of affluent, mid-life buyers.
Market activity up 30%
The report also highlights a 30% surge in demand for high-end homes in recent months, concentrated in exclusive urban neighbourhoods and coastal towns. This reflects not only deals finalised from earlier in the year, but also new searches initiated by foreigners visiting Spain over the summer and deciding to invest.
The most sought-after homes
Property portals confirm that the most popular searches this summer were concentrated in Madrid, the Balearics, and the Costa Brava, with a few outliers elsewhere.
- In Asturias, a villa near Gijón priced at €1.25m topped the list of most-visited properties.
- In Madrid, a €8.8m flat in the Jerónimos district, complete with 11 balconies, was among the most viewed, alongside a €11.9m penthouse in the Salamanca district with pool and 605m² of space.
- In the Balearics, villas in Ibiza (priced at €3.2m and €3.9m) and a €4.98m home in Mallorca with separate guest accommodation all featured prominently.
- On the Costa Brava, a villa overlooking the Bay of Roses was one of the standout properties at €1.09m.
Conclusion
Spain’s luxury housing market is thriving, fuelled by foreign demand and the spending power of middle-aged buyers. With a 30% increase in activity concentrated in prime urban and coastal areas, the appetite for high-end Spanish property shows little sign of slowing.
