Foreigners accounted for 31.6% of property sales in the Balearics in the third quarter of 2023, the highest figure by Autonomous Community in Spain, according to pisos.com.
Nationally, this figure stands at 15.44%.
This is the second highest on record and is “only slightly behind” the third quarter of 2022 (15.92%), which demonstrates “the great attractiveness that the Spanish real estate market continues to have within the European environment,” explained the head of research and spokesman for pisos.com, Ferran Font.
The expert highlighted that “in the face of the decline in the number of transactions, the foreign investor now appears as a key dynamising agent”.
Regarding the profile of the investor, Font stated that “the British buyer has always stood out in Spain”, they are interested in the price of properties, as well as the climate and the quality of life.
In fact, in the third quarter of 2023, the British were once again the investors with the highest number of foreign transactions in Spain (10.11%).
They are followed by Germans (7.01%), French (6.72%), Belgians (5.35%) and Moroccans (5.32%).
With regard to the areas preferred by foreign investors, the Mediterranean coast “has been and continues to be one of the main attractions”, according to pisos.com.
According to the latest report from the Association of Registrars, the provinces with the greatest weight of home purchases by foreigners during the third quarter of 2023 were Alicante (43.76%), Santa Cruz de Tenerife (36.58%), Malaga (35.33%), Balearics (31.69%), Gerona (30.85%), Murcia (24.83%) and Las Palmas (20.85%).
In the case of autonomous communities, those with the highest concentration of this type of operation were the Balearics (31.69%), the Valencian Community (29.45%), the Canary Islands (28.17%), the Region of Murcia (24.83%), Catalonia (16.36%) and Andalusia (15.98%).