How nationality trends are shaping the Spanish property market

International buyers account for 1 in 5 property purchases in Spain, highlighting their ongoing strong demand. Understanding nationality-specific trends can help agents target the right buyers for their properties and generate more sales.

Key nationalities driving the market

In 2024, a total of 92,958 property sales involving foreign buyers were recorded in Spain. This marked a 6% increase from the previous year and a 38% rise compared to the ten-year average.

• The British remained the largest group with over 8,000 transactions around the country. Germans and French followed, which aligns with historical trends.
• Less established markets saw strong growth: Polish purchases rose by 36%, while Dutch and American buyers increased by 18% and 13%.
• Demand from traditional markets like Norway, Russia, and France declined, with Norwegian purchases falling sharply by 63%.

Our internal year-on-year (2023-2024) enquiry data for our properties on thinkSPAIN shows similar trends: Enquiries from Polish buyers rose by 36%, Danish by 31%, and Dutch by 7%, while Norwegian interest fell by 30%.

These shifts reflect geopolitical and economic factors: Political instability has curbed Russian demand while Norway's sharp decline may be tied to currency weakness. Growing demand from Poland and the Netherlands reflects rising affluence and lifestyle priorities, while interest from the US suggests a search for a stable democracy following the recent presidential elections.

Regional demand trends

Different nationalities gravitate towards different parts of Spain. Here’s a snapshot of recent key trends involving non-resident buyers:

• Andalusia: The British continue to lead the market here, accounting for 18% of purchases. They are followed by the Dutch at 11%.
• Murcia: Another stronghold for British buyers, who represent 31% of the market. Belgians are the second-largest group at 18%.
• Canary Islands: Germans lead the non-resident market, holding 55% of purchases. The British follow at 9%.
• Balearic Islands: German buyers dominate the non-resident market here, with over half of all purchases. Italians have the edge when it comes to residents.
• Valencian Community: The British, once the dominant group, have been surpassed by the Dutch (14%) and the Belgians (12%).
• Catalonia: French non-residents are the leading buyers, holding 33% of the market. Germans follow at 9%.

In less touristic regions, French buyers lead in Aragón, Cantabria, Navarre and Castilla y León. Americans dominate foreign demand in Castilla-La Mancha, the Basque Country, Asturias, Galicia and La Rioja, while Chinese buyers top both resident and non-resident purchases in Madrid.

Property type preferences

Homes over 100 square metres lead the market: Americans, Dutch, and British tend to seek the larger properties.

Belgians, Dutch, and Poles favour new builds, while French, Argentine, and Irish buyers lean towards resale properties.

Over the past decade, properties over €500,000 have been targeted by non-EU buyers to qualify for Spain’s Golden Visa. However, the scheme was recently scrapped by the Spanish government due to concerns over housing affordability and property speculation.

When choosing a property, lifestyle preferences also play a crucial role:

• Outdoor living remains the top priority among international buyers. They consistently favour locations within walking distance of beaches and amenities.
• Detached houses and villas lead demand, particularly those with private terraces, gardens, and swimming pools.
• Eco-friendly homes are gaining traction among environmentally-conscious buyers from Germany, Sweden, and the UK. These properties feature energy efficiency, smart home technologies, and reduced carbon footprints. They are popular in Marbella, Mallorca, and along the Costa Blanca due to numerous government incentives.
• Co-living and co-working spaces are also becoming increasingly popular, particularly among younger "digital nomads" who are seeking flexible work arrangements.

thinkSPAIN helps agents benefit from buyer trends

Foreign demand for Spanish properties surged in the final 3 months last year with nearly 25,000 sales; the highest ever for a final quarter. With momentum continuing into 2025, thinkSPAIN continues to help agents connect with this growing international audience.

Our platform supports listings in 12 languages with automatic AI-powered translations. Personalised searches and email alerts keep buyers updated on properties matching their preferences. Our Find Your Place feature filters listings by lifestyle and location, helping our 2 million monthly visitors find their perfect match.

As international demand rises, now is the time to get your listings in front of active buyers. Featuring your properties on thinkSPAIN boosts your reach and connects you with this lucrative audience.