Foreigners bought a total of 70,163 homes in Spain, a 9.7% increase year-on-year and the second-largest volume in the historical series. Although transactions are slightly below those of the first half of last year, they have recorded the highest figure in the historical series.
The average price paid by foreigners for their homes has reached its historical maximum of €2,558/m², mainly driven by the average price paid by non-resident foreigners, which is at its historical maximum level of €2,558/m². The average price paid by foreigners for homes largely depends on their nationality. Specifically, the highest amounts were paid by buyers from Switzerland (€2,904/m²), Sweden (€2,885/m²), Denmark (€2,881/m²), the United States (€2,809/m²), Germany (€2,685/m²) and Norway (€2,656/m²). On the other hand, Moroccans (€717/m²), Romanians (€1,117/m²), and Ecuadorians (€1,151/m²) paid the lowest prices in the second half of last year.
In terms of nationality, British buyers remain the largest group, representing 10.72% of all transactions (7,520), followed by Germans (9.33%) and French (7.35%). These profiles also stood out throughout the year, along with Moroccans, Romanians, Italians, Belgians, Dutch, Swedes, and Chinese. The group of the top 15 buyers is completed by Russians, Ukrainians, Irish, Americans, and Argentines.
The increase in purchases by foreigners has been sustained over four semesters after the declines recorded in 2020 and 2019, although in this second half of 2022, there is a more moderate increase than that observed in 2021 and the first half of 2022. Resident foreigners made 55.5% of purchases, an 11.2% increase year-on-year, while 44.5% of transactions were made by non-residents, with an 8% increase compared to the last six months of 2021.
In summary, the weight of foreigners in the Spanish real estate market is higher than ever. Foreigners bought a total of 70,163 homes in Spain in the second half of 2022, representing 21.1% of total purchases. The average price paid by foreigners for their homes has reached its historical maximum, being the highest average price in the historical series since 2008. British buyers remain the largest group, although Ukrainians, Americans, and Argentines were the nationalities that saw the greatest year-on-year increase in transactions.