This who are strangers buy a house They are one of the leaders in the Spanish market. Among other factors, those who buy an apartment or villa in our country for half a million euros or more receive the Golden Visa, a visa that allows them to reside and work without any hassle. This is one of the formulas used by citizens, especially Latin American millionaires, who want to move to our country from outside the European Union in recent years.
According to the historical average, international citizens They are in 12% to 14% of all closed home sales.. According to the Vivienda en la Costa report by Tinsa appraiser, “second home buyers from other countries have a very significant weight in coastal markets.”
What are your favorite fields? “They stand out Islands, where one-third of sales are made by foreigners and more than one-third of them reside. The research is also relevant to the Mediterranean Coast, where one-fifth of the buyers are foreigners and half of them reside in the country. By contrast, Spain’s north coast has a national audience, just like Andalusia’s Atlantic coast.
According to the closing data of 2021 provided by the Ministry of Transport, Mobility and Urban Agenda, Alicante Became the city where foreigners bought the most, 20,000 residences and over 40% market share. Behind it are Malaga (12,500), Barcelona (8,000), and the Balearic Islands (7,000).
Foreigners bought more in 2022
Due to the lack of precise data for 2022, foreigners accelerated their housing purchases in the first three quarters of last year. until September, international companies are buying more and more for six consecutive quarters. While the British are the ones who carry out the most operations, the Germans and the French are next in the ranking. Sales made by citizens from abroad reached 72,395 units in total, with 21,638 units in the first quarter, 24,029 units in the second quarter, and 26,728 units in the third quarter.
Between January and March, they accounted for 8.63% of all purchases, exceeding 8.12% in 2012, staying close to the 2006 maximum of 8.97%. those months Russians account for 9 percent of market transactions, only behind the British. In the second quarter, according to the College of Registrars, international they recorded the maximum of the last ten yearsaccounts for about 15% of all transactions. The most purchased places were the Balearic Islands with 34.7%, the Canary Islands with 34.2% and the Valencian Community with 27.7%. Finally, between July and September, max level of historical array reached15.9% of all sales are registered.
According to a report published by the Idealista real estate portal in the middle of last year, which analyzes preferences on the basis of nationality; Popular German municipalities are Palma, Calviá, Barcelona, Torrevieja and Llucmajor. The French prefer Barcelona, La Moraleja (Madrid), Valencia and Alicante; Duration Brits prefer Madrid and Barcelonaalso municipalities on the Costa del Sol such as Marbella or Mijas.
War Incident in Ukraine
The last few years have been complicated for home sales by foreigners, but even so, the data shows it’s resilient. All operations came to a halt when the Covid-19 health crisis broke out in early 2020. because those who wanted to buy a second home could not travel to Spain. Later, as the measures were relaxed, a certain revival was achieved in this market. The quarter with the fewest international events since 2013 was second only to 2020 with 8,160 signatures. But it was also common in the domestic market as it was the worst.
When pre-pandemic levels recover in 2022, As a result of Russia’s invasion of Ukraine and the sanctions adopted by the European Union in retaliation for this aggression, Russia’s housing investment in Spain disappeared.. 27 agreed with the Bank of Russia to ban operations, access to the SWIFT system and new investments by big oligarchs. “In the last ten years, the Russians showed an upward trend until 2014, the year of the occupation of Crimea, and showed a great decline in 2015. The slow recovery that followed was broken by the health crisis in 2020. While it showed an improvement in 2021, it decreased in 2022 due to international sanctions. It will reverse the trend,” he said.
On the contrary, Conflict neighboring countries such as Poland intensified their purchases in Spain. As he reported hiddenA third of the purchases at the Intempo skyscraper in Benidorm and half of the buyers of contractor Sierra Blanca are of Polish origin; although it does not have a big impact on the overall statistics in gross numbers for now.