High-spending buyers shaping Spain's property market

International demand is not only pushing property prices to record highs, it’s reshaping where and how agents can close high-value sales. In H2 2024, foreign buyers paid an average of €2,362/m², over 30% more than domestic buyers. But, which nationalities are contributing the most to this rise?

Who is spending more?

Recent figures from the General Council of Notaries reveal:

• In the second half of 2024, American buyers led the way, paying an average of €3,390/m².
• They were followed closely by Swedish buyers (€3,295/m²), Germans (€3,224/m²) and Swiss (€2,851/m²).
• Key markets including France, Belgium, and the Netherlands ranged from €2,447/m² to €2,606/m².
• British buyers, who lead the non-resident market in terms of transactions, paid just above the average at €2,417/m².

What does this mean for estate agents? thinkSPAIN attracts lifestyle-driven buyers seeking holiday homes, retirement options, or investment properties; and they’re willing to pay a premium. This positions them as a highly lucrative market.

Where are international buyers spending the most?

Lower interest rates, combined with Spain’s warm climate, rich culture, and renowned cuisine, make the country a highly attractive destination for international buyers. Their growing demand is pushing up property prices (Bankinter, May 2025), particularly in Spain’s most sought-after regions.

• Balearic Islands: The priciest region in Spain, with average prices surpassing €4,900/m². Demand is driven by affluent German and Scandinavian buyers, especially in Mallorca.
• Canary Islands: A top choice for German and Italian buyers. Prices average €3,040/m² in sought-after areas like Playa de las Américas (Tenerife) and Maspalomas (Gran Canaria).
• Madrid: A rising hotspot for American and Chinese investors, attracted by high rental yields and cultural ties. Average prices exceed €4,200/m².
• Catalonia: Offers vibrant city living combined with renowned coastal hotspots along the Costa Brava. French and German buyers lead the market here, paying averages of over €2,500/m².
• Valencian Community & Andalusia: Popular among British, Dutch, and Belgian buyers, with regional averages from €2,200m² to €2,470/m². Coastal areas like Málaga, Alicante, and Marbella often command much higher prices.

Agents advertising properties in these areas have a prime opportunity to target premium sales. Recognising these trends and positioning properties accordingly can lead to very profitable results.

Regional price growth trends

Property prices (Bankinter, May 2025) have risen across all regions since May 2024, except for Extremadura, which saw a 1.3% decrease. Madrid experienced the highest growth at 24.3%, followed by popular hotspots such as the Canary Islands (18.2%) and the Valencian Community (17.5%). Murcia also saw a significant increase of 18.1%, reflecting its growing popularity.

The regions with the highest foreign demand are driving the largest price hikes, yet surprisingly, Catalonia saw a modest 6.5% increase despite its strong international appeal.

Since late 2016, property prices in Spain have followed a steady upward trend, with the national average price per square metre rising by nearly 50% over the last decade.

Reach high-spending buyers globally with thinkSPAIN

thinkSPAIN connects agents with millions of international buyers willing to pay more for Spanish properties. Our top international enquirers are Britons, followed by Germans, Dutch, French and North Americans; all among the highest-spending nationalities mentioned above.

And it’s not just foreigners; thousands of domestic buyers use our portal every month as well. In fact, Spanish users typically enquire about properties 10% above the average national price on our portal, reinforcing our position as a trusted platform for motivated high-value buyers.

With over 2 million visits per month and listings automatically translated into 12 languages, we help your properties get seen by motivated, high-value buyers from Europe and beyond.