The Sede de Registradores de España claims that foreign home purchases in Spain broke records in 2022.
It's reported that foreigners purchased 26,728 homes between June and September 2022, accounting for 15.92% of all registered property sales and purchases in Spain. And a new record in this organization's historical series! These figures demonstrate a distinct and consistent upward trend, and, more importantly, they highlight the notable strength of the Spanish real estate market.
Which are the most popular nationalities that buy properties in Spain? The top eight foreign nationalities in Spain in terms of percentage of total property sales in Q2 were:
- British: (9.8%)
- German: (9.1%)
- French: (6.6%)
- Moroccan: (4.9%)
- Belgian: (4.9%)
- Romanian: (4.85%)
- Dutch: (4.8%)
- Italian: (4.6%)
The Costa del Sol is a firm favourite among British pensioners
Housing developer, Taylor Wimpey Spain, reports a 188% increase in British reservations as second-home sales in Spain soar. They say homes on the Costa del Sol were preferred by 61% of Britons.
Why do British pensioners choose to retire to Spain? Some benefits of retiring to Spain include a great healthcare system, a strong British Expat Community, playing golf on top-notch courses, relaxing with drinks at the clubhouse, being near the beach, and basking in the scorching Andalusian sun.
A few factors that draw more foreigners to Spain are its high standard of living, temperate climate, and extensive coastline.
More than 5.5 million foreign nationals living in Spain, accounting for more than 12% of the population, with the United Kingdom leading the way. It is estimated that over 300,000 British retirees live in Spain, with the vast majority settling on the Costa del Sol. We can see why this Mediterranean resort is a favourite with its perfect weather, low cost of living, and no-stress lifestyle.
Which provinces in Spain are the most popular with foreigners?
The provinces, or regions, of Spain where foreigners purchased the most homes in the third quarter of 2022 were:
- Alicante (42.8%)
- Santa Cruz de Tenerife (40.46%)
- Malaga (33.95%)
- The Balearic Islands (31.41%)
- Girona (28.10%)
- Las Palmas (21.29%)
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Retiring to Spain can be stressful...
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So, if you're looking to retire to Spain, please do not hesitate to get in touch to see how we can help with your relocation to Spain.
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