Record Surge in Foreign Homebuyers in Spain in 2024

By Vivi Real Estate | 10 de March de 2025 |

The Spanish real estate market witnessed an unprecedented surge in foreign home purchases in 2024, with nearly 93,000 transactions recorded, highlighting the growing appeal of property investment in Costa del Sol and other prime locations. This figure, sourced from the College of Registrars and analyzed by leading real estate platform Idealista, marks one of the highest shares of foreign investments in Spanish housing history. Of the 636,909 total property transactions in the country last year, close to 15% were attributed to non-resident and resident foreign buyers alike.

Why Spain is a Top Choice for Foreign Homebuyers

Spain has long been a preferred destination for international buyers due to its warm climate, rich culture, and attractive property prices. Whether purchasing a holiday home, an investment property, or a permanent residence, foreign buyers see Spain as an ideal market. The relatively low cost of living compared to other European countries and the potential for rental income add to its appeal.

Foreign Investment Boosts Spanish Real Estate

The overall real estate market in Spain experienced a 9% increase in home sales compared to 2023, totaling 636,909 transactions. Existing homes dominated the market with 505,145 sales, while new-build properties saw a rise to 131,764 units. Foreign buyers played a key role in this growth, accounting for approximately 93,000 purchases—nearly breaking the all-time record set in 2023 and surpassing the 88,800 transactions recorded in 2022.

Who is Buying? Homebuyer Trends by Nationality

Dutch buyers demonstrated growing interest in Spain, purchasing 4,923 properties in 2024—up from 4,151 in 2023. Conversely, Belgian buyers showed a slight decline in purchases, securing 4,421 homes compared to 4,566 in the previous year.

The British and Germans led the pack, with nearly 8,000 and over 6,100 property acquisitions, respectively. Moroccan, Dutch, and Romanian buyers also increased their activity, purchasing 5,200, 4,900, and 4,700 homes, respectively. Meanwhile, Italian buyers matched the Romanians with 4,700 transactions. French interest saw a dip, with total purchases falling below 5,000.

Additionally, Polish buyers surged past 4,200 transactions, while Chinese, Ukrainian, and Russian buyers maintained a steady market presence with 3,000, 2,900, and 2,270 transactions, respectively. American investors also contributed significantly, acquiring more than 1,550 homes.

Where are Foreigners Buying in Spain?

Top Regions for Foreign Buyers

The Valencia region remained the most sought-after location for foreign homebuyers, recording over 29,900 transactions. Foreigners were involved in nearly 30% of all property purchases in this Mediterranean hotspot.

Andalusia followed closely, with 17,435 foreign purchases, representing 19% of Spain’s total foreign transactions. The region's total home sales also saw a foreign buyer share exceeding 14%. Catalonia secured third place with 16,053 purchases, making up 17% of all foreign transactions.

Other notable regions include:

• Balearic Islands: Foreign buyers accounted for 33% of purchases, with total transactions nearing 4,500.
• Canary Islands: Tourism-driven real estate demand saw foreign buyers comprising 27% of sales, with nearly 6,800 transactions.
• Murcia: Foreign investors made up 23% of total sales, with over 5,500 purchases recorded.

Foreign Home Purchases by Province

On a provincial scale, Alicante led foreign property investments with over 22,700 purchases, representing 44% of all home sales in the province and nearly 25% of Spain’s total foreign transactions.

Málaga also saw a sharp rise in foreign demand, with more than 11,400 home purchases. This accounted for 32% of all sales on the Costa del Sol and 12% of Spain’s foreign property transactions.

Additional key provinces include:

• Barcelona: Over 9,100 transactions, with a foreign buyer share exceeding 10%.
• Valencia: More than 5,350 foreign transactions, reflecting strong international interest.
• Santa Cruz de Tenerife: 33% of total sales were foreign purchases, amounting to 3,800 transactions.
• Las Palmas: 22% of sales attributed to foreign buyers, totaling nearly 3,000 purchases.
• Girona: 27% of total home sales were foreign-bought, with more than 3,600 transactions.

How to Invest in Spanish Real Estate?

If you're considering buying property in Spain, it's essential to navigate the legal and financial aspects carefully. Working with a trusted real estate agency like Vivi Real Estate can help simplify the process. Vivi Real Estate offers expert guidance on finding the best properties, understanding legal requirements, and securing the best deals in Spain's competitive real estate market.

Steps to Buying Property in Spain as a Foreigner

1. Research the Market – Identify the best locations and property types that fit your needs.
2. Secure Financing – Many foreign buyers finance their purchases through Spanish banks.
3. Hire a Lawyer – Legal experts ensure your transaction follows Spanish property laws.
4. Find a Reputable Real Estate Agency – Partnering with Vivi Real Estate ensures a smooth and secure buying experience.
5. Complete the Purchase – Sign contracts, pay necessary taxes, and register your property.

Why Choose Vivi Real Estate?

Vivi Real Estate specializes in helping international buyers find their dream homes in Spain. With a deep understanding of the local market, Vivi Real Estate provides tailored services, from property search to finalizing transactions. Whether you’re looking for a holiday retreat, investment property, or a new home, their team ensures a seamless buying process.

Final Thoughts

The Spanish real estate market remains a hot spot for foreign investors, with rising property sales and high demand in coastal regions. Whether you are looking to invest, relocate, or secure a second home, Spain offers endless opportunities. If you’re ready to take the next step, contact Vivi Real Estate today and start your journey toward owning property in Spain!