15.9% of property sales and purchases in Spain were carried out by foreign buyers during the third quarter of 2022, with the Balearic and Canary Islands being the favourite regions accounting for over 30% of homes that are not owned by Spaniards, according to pisos.com and the latest report from the Association of Property Registrars.
After two years of uncertainty in the real estate market due to the pandemic, this is the highest figure in the last ten years and is evidence of the recovery of the sector.
The Director of Studies and spokesperson for pisos.com, Ferran Font, explained that the foreign market (which has posted growth for nine consecutive months) is especially relevant at “times like the present, where volatility and uncertainty are just around the corner”.
After the Balearic and Canary Islands, where non-Spanish-owned properties account for more than 30% of the total, come the Valencian Community (28.3%), the Region of Murcia (23.4%) and Andalusia (17.8%).
The British bought the most houses in Spain during the third quarter of 2022, 9.3% of the total, followed by the Germans, French and Romanians with coastal properties proving the most popular.