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Patterns in Home Buying by Foreigners in Spain

The Dutch and Germans are buying the largest homes in Spain, while the highest price per m2 is paid in the Balearic Islands, an average of 3,250 euros/m2.

In 2020, international buyers bought 46,303 homes in Spain, 26.3% less than in 2019. Despite the fall in the number of transactions, the average price stood at 1,791 euros/m2, a year-on-year increase of 3.6%.

However, there are large differences between the amount paid by residents and non-residents. The average price for the former group was 1,479 euros/m2, well below the 2,249 euros/m2 paid on average by non-residents, according to data from a report prepared by Gamerin for Real Estate Agents (API) and FIABCI Spain.

Of the total number of sales reported in Spain last year, the Valencian Community topped the ranking, followed by Andalusia and Catalonia. However, the highest price per square metre paid by international buyers was in the Balearic Islands, with an average of 3,250 euros/m2.

Behind that was the Community of Madrid, with an average price of 2,340 euros/m2; the Basque Country (2,120 euros/m2); and Catalonia (2,060 euros/m2).

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