Brits are providing a big boost to Spain’s property market: THESE are their most sought after areas

Brits are providing a big boost to Spain's property market: THESE are their most sought after areas
Image by from Pixabay

FOREIGN home property buyers accounted for 21% of Spanish sales in the first half of 2023, according to the College of Registrars.

Although the foreign sales fell by 7.5% in the first half of the year to 67,983 transactions, the drop was far higher for Spaniards after higher interest rates.

British buyers dominated the foreign market between January and July with 9.6% of the total(6,498), followed by Germans (8.1%) and Moroccans (7.3%).

The most popular areas for British purchasers were Andalucia, the Valencian Community(mostly Alicante province), followed a distant third by the Murcia region, according to the registrars.

Between January and June, the largest percentage increases were recorded by Russians (50.2%) and Ukrainians (41.6%), followed by Americans (13.6%).

The next highest groups were French, Italians, Romanians and from the Netherlands.

The average price paid by foreigners as a whole stood at 2,094 euros/m2 in the first half of the year- 1.3% more than a year earlier.

As opposed to British buyers dominating overall sales, other nationalities were prepared to pay a lot more for their new home.

Average prices of €3,046 per square metre were paid by Swedes; Danes (€2,930/m2); Americans (€2,921/m2); and Swiss (€2,812/m2).

The lowest prices were paid by Moroccans (€689/m2) and Romanians (€1,086/m2).

Moving later into the year, the registrars reported that between July and September, foreign purchases accounted for 15.4% of all operations- the second best quarter(2022 excepted) since records began, boosted by the high tourist season.

Taking the third of quarter of 2023 into account, in terms of provinces, the highest percentages of foreign buyers were found in Alicante (43.7%), Santa Cruz de Tenerife (36.6%), and Malaga (35.3%).


Warning: If you have bought THESE brands of olive oil in Spain’s Andalucia then they may be tampered with and need throwing away
Previous Story

Supermarkets in Spain are locking up OLIVE OIL amid a surge prices and shoplifting

Next Story

Controversial skyscraper is approved for Spain’s Costa del Sol: 150m tower gets preliminary green light after eight-year battle

Latest from Andalucia

Go toTop

More From The Olive Press