SECOND HOME BUYERS CAN’T GET ENOUGH OF ANDALUCIA
Second home buyers Spain:
The southernmost of peninsular Spain’s autonomous communities, Andalusia is a sun-drenched region that encompasses huge stretches of coastline, including the Costa del Sol, Costa de la Luz and Costa Tropical. It is a favourite holiday destination with travellers from around the world, many of whom have taken advantage of Spain’s relatively affordable property prices to purchase second homes there.
According to Colegio Registradores, Andalusia accounted for 20.61% of all housing sales in Spain during Q3 2022. That’s more than any other region (the next most popular area was Catalonia, with 16.06% of total sales).
Across Spain, home purchases by foreigners grew by 1.26% to reach 15.92% of all home purchases in Q3 2022. Within Andalusia, there are locations where the proportion of foreign owners is much higher. In Malaga, for example, Kyero reports that foreigners now account for 32.63% of all housing transactions. And demand continues to grow. According to Spain’s land registrars, the number of deeds inscribed in the land registry in Q3 2022 involving foreign buyers was up by 61% compared to 2021 and by 73% compared to 2019 (before the pandemic).
Britons represent the largest group of foreigners buying homes in Spain, according to Colegio Registradores’ Q3 2022 data. They make up 9.3% of all foreigners buying homes in Spain (the next largest group was Germans, at 8.04%, then French buyers, at 6.21%). And Spain is certainly doing all it can to welcome British buyers. At present, it is lobbying the EU to drop the 90-day limit for visitors from the UK, so that they can spend longer periods in the Spanish sunshine.
Leading Spanish home builder Taylor Wimpey España has certainly noticed a strong appetite for second homes in Andalusia from international buyers. Reservations by foreigners across all of the regions in which the company operates were up by 22% in November (year to date, compared to the same period in 2021). In the Costa del Sol, however, reservations by foreigners were up by 27%.
“The Costa del Sol has long been our most popular area with British second home buyers, who love the lifestyle here in Andalusia. Beaches, golf, spas, luxury shopping, superb cuisine… the area has it all. Plus, Andalusia is extremely well connected, meaning that visitors can travel here with ease at any time of year and from a wide range of locations.”