The Belgian market for property in Spain
Data and analysis of the Belgian market for Spanish property in periodic reports highlighting key trends of interest to anyone looking to buy or sell property in areas of Spain where the Belgians are active in the local real estate market.
The annual report will go into more detail on Belgian demand by region, how much buyers from Belgium spend on property in Spain, and the headwinds / tailwinds driving or hindering buyers from Belgium. The half-yearly report just updates the main charts with the latest numbers. The first annual report will be published for 2024 when the numbers are available in the first half of 2025.
Subscribe to the Data Hub to get access to all the public data on Belgian demand for properties in Spain, and many other trends in the Spanish housing market.
2024 H1
2,197 Spanish home sales inscribed in the Land Registry in the first half of 2024 (H1) involved a Belgian buyer, down 8pc compared to the same period in the previous year, but 15pc above the ten-year average. It was the 4th best year for sales in the last decade.
The Belgians were the sixth biggest group of foreign buyers of property in Spain in H1, behind the British, Germans, French, Dutch and Italians.
The market share of Belgian buyers (as a percentage of the overall number of foreigners buying property in Spain) fell to 5.1pc, down from a high of 7pc in 2015.
Looking at the year-on-year percentage change in sales in both H1 and Q2 compared to other countries, Belgium was in the bottom half of the field when it came to declines in H1 (-8pc), and one of the worst performers in Q2 (-13pc), suggesting a deteriorating trend as the year progresses. That said, it was still a good year by historical standards.
Where do the Belgians buy homes in Spain? There are no figures yet for H1 2024 but the picture from 2023 will be broadly similar, as illustrated by the next chart.
