9 Sep, 2024 @ 15:21
1 min read

Revealed: The three hottest coastal destinations for foreign property buyers in Spain

Brits continue to lead the pack of foreign buyers in Spain

FOREIGN buyers are propping up the coastal property market in Spain, latest figures show. 

In some areas they are accounting for almost 50% of sales, according to the latest data from the Association of Registrars, reported by tech firm Sonneil. 

Leading the pack is Alicante (pictured above), on the Costa Blanca, where an incredible 44% of coastal homes are being bought by non-Spaniards. 

The second hottest location is Santa Cruz de Tenerife, where 35% of buyers are foreigners, followed by Malaga (33%). 

Then comes the Balearic Islands (31.7%), Murcia (24%) and Las Palmas de Gran Canaria (22%). 

CEO of Sonneil Alfredo Milla said: “Spain’s unique characteristics make it one of the most thriving residential destinations in Europe. 

Malaga city on the Costa del Sol

“Its climate, lifestyle, cost of living, infrastructure, and culture, among other factors, make it highly attractive for foreign investors looking to enjoy extended stays on the country’s coasts…

“This is a very dynamic and active sector, which is expected to continue growing.”

Buying a second home on the coast can be an attractive investment opportunity, given that it can be rented out to higher paying tourists over summer or throughout the year, depending on the location. 

Brits continue to lead the pack of foreign buyers in Spain, accounting for 9.4% of sales to non-Spaniards. 

They are followed by the Germans on 7% and the French (6%).

Laurence Dollimore

Laurence Dollimore is a Spanish-speaking, NCTJ-trained journalist with almost a decade’s worth of experience.
The London native has a BA in International Relations from the University of Leeds and and an MA in the same subject from Queen Mary University London.
He earned his gold star diploma in multimedia journalism at the prestigious News Associates in London in 2016, before immediately joining the Olive Press at their offices on the Costa del Sol.
After a five-year stint, Laurence returned to the UK to work as a senior reporter at the Mail Online, where he remained for two years before coming back to the Olive Press as Digital Editor in 2023.
He continues to work for the biggest newspapers in the UK, who hire him to investigate and report on stories in Spain.
These include the Daily Mail, Telegraph, Mail Online, Mail on Sunday and The Sun and Sun Online.
He has broken world exclusives on everything from the Madeleine McCann case to the anti-tourism movement in Tenerife.

GOT A STORY? Contact newsdesk@theolivepress.es or call +34 951 273 575 Twitter: @olivepress

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