Foreign buyers in SpainMarket sizingSpain

Foreign buyers in Spain : the 9 billion euros market

  • Foreign buyers closed on €9.054 billion worth of Spanish residential properties in 2016

Recently I have been looking at the dollar volume, or the market size if you prefer, that international buyers represent in each market.
Indeed, in the United States for example this figure is easy to find :

“Between April 2016 and March 2017, foreign buyers and recent immigrants purchased $153.0 billion of residential property” – National Association of Realtors’ 2017 Profile of International Activity in U.S. Residential Real Estate, as you can read in this article.

For Spain, this figure is not given this clearly by the authority in charge of delivering those reports.

Here is what they give:

Number of sales to foreign buyers in Spain in 2016

In 2016, foreign buyers acquired over 55,512 properties in Spain (as you can read here), up 13,5% from the year before. Interestingly enough, foreign buyers represented were in active in more than 1 in 5 transactions in 10 regions (as you can read here).

Average price of a transaction involving a foreign buyer in Spain in 2016

According to the Government Data, the average transaction involving a foreign buyers in Spain is 151,605€ for second-hand properties and 222,166€ for new homes. As 83,7% of the properties made by foreign buyers were second-hand homes (as you can read here), we can now calculate that foreign buyers bought for 9.054 billion euros worth of properties in Spain in 2016 (55512 properties at an average transaction price of 163,107€).

This is so far the best estimate I’ve been able to calculate, although naturally I would hope that next year the authorities would not only give the number of transactions but deliver the euro volume as well in the same report.

If you wonder which nationalities are most involved, please read this article about the nationalities of foreign buyers in Spain.

 

Thanks for reading my latest article on foreign buyers in Spain. For more information please consult https://foreignbuyerswatch.com/category/foreign-buyers-in-spain/ or reach out to me by message directly.