Alex Trelinski
GERMANS have overtaken Brits in applying for home mortgages in Spain during the first quarter of 2025.
Figures from the property portal Idealista showed that 16.6% of mortgage applications came from German citizens, followed by 14.2% from UK nationals.
Overall foreign buyers account for 3.6% of mortgages granted in Spain.
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Applicants from Switzerland came in at 8.7% between January and March followed by Americans with 7.7%.
The Idealista numbers then put the French on 7.5% followed by Dutch(6.9%), Irish (4.4%), Belgians (4%), Italians (2%) and Swedes (1.9%).
The German leadership early in 2025 shows a significant rise on last year when they led the UK by 0.6%.
Other trends showed an increase in buyers from Switzerland and the United States with a fall for the Netherlands while French purchasers remained stable.
Germans also stood out for mortgage loan application amounts being lower than the average at around €148,946.
In contrast the Swiss and American average came in at over €200,000.
The difference is down to average income, so with more money in Swiss and US pockets, they are looking for a higher mortgage.
Idealista said the the average age of foreigners who apply for mortgages is between 40 and 42 years, with Germans on 40 years.
The percentage of financing requested varies depending on the country, although it is close to 74% of the value of the home for foreigners as a whole.
German buyers require an average of 73%, while the French reach up to 76% and the Swedish only up to 71%.
Unsurprisingly coastal areas are most in demand for non-Spaniards.
The Valencian Community tops the regional list with 26.8% of foreign mortgage interest, followed by Andalucia (21.1%) and Catalunya(14.5%).
The most popular kind of mortgage for foreign buyers are fixed-rate loans., accounting for 84% of applications.
