Belgian buyers purchased 4,100 Spanish properties in 2018. Therefore, Belgium was the #4 biggest nationality of foreign buyers in Spain. In other terms, Belgian buyers acquire 11 Spanish properties per day.
Belgian buyers purchased 4,100 Spanish properties in 2018
Belgians buy more new homes than other nationalities
An astonishing 33% of the Belgians bought a new home. This percentage is much higher than it is for the British buyers (13%) or the Germans (16%). In other words, Belgians purchased 1,350 new homes in Spain last year.
Belgians bought 1,350 new homes in Spain in 2018
Detail of calculation: 65,400 transactions by foreign buyers in Spain x 6,26% of foreign buyers are Belgians x 32,84% of Belgians buy new homes
Where do Belgians buy most real estate properties in Spain?
Andalucia: Belgians are the #3 biggest buyers
In Andalucia, Belgium is the #3 nationality of foreign buyers with 8%. It only comes after the British (22,5%) and the Swedish (10%). Not surprising, given that Andalucia contains Costa del Sol, where many new homes can be bought for relatively cheap prices!
Canary Islands: Belgians are the #4 biggest buyers
Representing a strong 11% of sales to foreign buyers, Belgians are also quite important in the Canarias. Only the Italians, British and Germans buy more properties than the Belgians in the Canary Islands.
Valencian Community: Belgians are the #3 biggest foreign buyers
French-speaking buyers are big in Valencia and its region, with the Belgians representing 8,2% of transactions by foreign buyers, and the French at 6,5%. Together, they beat the Swedish (9%) or the British (17,4%). This is particularly remarkable in a region where foreign buyers represent a high percentage of all transactions. Especially with Alicante, where foreign buyers represent more than 40% of all buyers.
Other Spanish regions
- Balearic Islands: German buyers are leading the chart with 37% (especially in Mallorca), and Belgians are far with only 1,2% but still part of the top 10. Not bad in a region where a third of properties are sold to foreign buyers.
- Calatonia: Belgians are the #9 buyers. In the region where French buyers represent 21% of foreign buyers, Belgians reach 3% of acquisitions by foreign buyers.
Belgian buyers spend €173,000 on average
Mortgage for Belgian buyers
Although Belgians represent 6,3% of the foreign buyers in Spain, only 1,38% of mortgages are the deed of Belgian buyers. This tends to prove that many Belgian buyers purchase in cash.
However for the Belgians who take a mortgage, the average loan is €121,000. As foreign buyers typically get financed only 70% of the property value by banks, this indicates an average property price at €173,000.
Average price per square meter
On average, Belgians pay €1,700 per square meter. Where does that rank them? As you can see below (graph from ElConfidencial), this means that Belgians purchase relatively cheap properties. Indeed, at €1,700 per m2, Belgians are far from the Swedish (“Suecia”) or the Americans (“EEUU”).
How big are the properties purchased by the Belgians?
Belgian buyers purchased Spanish properties smaller than the British and Germans. However, 78% of the Belgians chose a property bigger than 60m2. Almost no Belgian opted for a property smaller than 40m2.
How to sell properties to Belgian buyers?
Now that you know more about the Belgian buyers in Spain, how to sell more properties to them?
- See who are the leading property portals in Belgium (click here)
- Advertise your properties on these Belgian property portals (contact me)
Also, we can create push marketing campaigns: emailing campaigns, banner advertising, content marketing, to generate more clicks, and more leads from Belgian buyers for your properties.