Foreign property purchases increase by 52.7% in Spain
Property purchases Spain
- Foreigners accounted for 20.3% of purchases in H1 2022 (General Council of Notaries)
- Britons are the leading nationality of foreign buyers
- Brits are particularly drawn to Costa del Sol and Costa Blanca (Taylor Wimpey España)
A report into the Spanish property market during the first six months of 2022 has revealed a 52.7% jump in the number of foreigners buying homes in Spain, compared to the first half of 2021. The figures from the General Council of Notaries also reveal that foreign buyers accounted for 20.3% of home sales in Spain in H1 2022.
Britons are leading the charge when it comes to an appetite for Spanish property, accounting for 10.7% of all purchases by foreigners. They were followed by German buyers (10.2%) and buyers from France (7.7%).
While overall property purchases by foreigners jumped by 52.7% in H1 2022, some regions experienced even greater increases. Foreigners bought 78.0% more homes in the Costa Blanca than they did during the first half of 2021 and 62.3% more in the Costa del Sol.
The General Council of Notaries’ figures also shows that the average price per square metre of homes purchased by foreigners rose by 10.6% in the first half of 2022 (compared to H1 2021).
Leading Spanish home builder Taylor Wimpey España is experiencing the increase in demand first-hand, with a number of developments either recently sold out or with just one or two properties left.
“The data emphasize just how strong demand for Spanish property is from foreign buyers. This is something we’re seeing play out in each of the regions in which we operate, where reservations are above pre-Covid levels and where many of our developments are selling out fast.”
Marc Pritchard, Sales and Marketing Director, Taylor Wimpey España
In the Costa del Sol, Taylor Wimpey España’s key-ready Pier 1 development has just one apartment left for sale. The exclusive, gated community consists of four homes with frontline views of Sotogrande Marina. The final available apartment is the ground-floor home, costing €1,829,000 plus VAT, which comes complete with an expansive outdoor terrace with private pool.
Over in Ibiza and also ready to move into is the last home at Sunset Ibiza. Occupying a spectacular waterfront position, with views out to Conillera Island, the property is priced at €700,000 plus VAT, for which buyers get a beautiful two-bedroom apartment with large terraces, a communal pool and direct access to the sea.
Kiruna Hills and Essential, both in Alicante, also only have a few homes left for sale. Kiruna Hills has proven popular with golfers, due to its location at Alenda Golf, as well as the high quality of its townhouses with private gardens, terraces and roof terraces. . At Essential, meanwhile, buyers can purchase apartments in an outstanding location, with beaches, supermarkets, markets, banks, restaurants, cafés, gyms, schools (state and international), bus stations and post offices all within walking distance . Both developments include communal pools and garden areas, with Essential also including a playground.