British And Germans Bought Most Homes In Spain In 2020

In total, foreigners bought 46,303 homes, 26% less. British acquisitions accounted for 13.05% of the total.

Foreigners bought 46,303 homes in Spain last year, which represents a reduction of 26% compared to 2019 , as a result of the situation experienced by the pandemic. The figure is far from the maximum in the historical series, the 65,416 purchases in 2018, but remains at levels similar to 2014 and well above the years of the previous crisis.

The API and FIABCI Spain presented a report with data provided by the College of Registrars and analyzed by the consulting firm Gamerin, which shows that home purchases made by foreigners represented 11.32% of the total, which represents a slight reduction of 1.13 percentage points. Despite this decline, the data showed a recovery from the second half of the year.

The British, for yet another year, lead the purchase in Spain with 6,043 homes in 2020, which represented 13.05% of the total . The French are placed in second position with 3,777 homes (8.16% of the operations and the Germans had the third place with 3,589 homes acquired in our country in 2020 (7.75% of the total).

They are followed by Moroccans and Belgians, whose home purchase shares represent more than 6% of the market share. The CEO of Gamerin, Luis Fabra, highlighted that, for the most part, “nationalities that are set in the Spanish residential market for tourism purposes predominate.”

Regarding the average price by nationality, the Swedes bought the most expensive in 2020 (5,322 euros / m2) , followed by the Germans (4,668 euros / m2) and the Norwegians (4,662 euros / m2). At a general level, the average price of home purchases by foreigners was 1,791 euros / m2, with an annual increase of 3.6%, continuing the upward trend of previous years.

By communities
The Valencian Community monopolized the largest number of home purchases by foreigners in the last year, with a total of 13,493 units (-30.3%), followed by Andalusia with 9,443 homes (-22.7%) and Catalonia with 7,748 units (-20.7%), being seven the autonomous communities whose purchases were below 300 homes.

For its part, the Balearic Islands was the community that registered the highest share of foreign dialing with 29.64% , but in absolute terms it has the fifth position with 3,146 homes. Fabra explained that both in number and relative weight there was a generalized process of decrease in the purchase of homes by foreigners, impacted to some extent by the sanitary restrictions derived from the pandemic.

At the provincial level, Alicante led the demand by foreigners with more than 36% of the homes acquired. Other provinces that aroused greater interest were the Balearic Islands, Malaga, Tenerife and Gerona.

The number of mortgages on housing formalized by foreigners exceeded 19,000 last year, registering a decrease with respect to 2019 of 17.8% , the year in which the maximum of the historical series was reached (23,342 mortgages).

This number of mortgages represents 5.63% of the total, giving rise to a much lower representation than that achieved in total home purchases (11.32%), which shows the lower need for financing by foreigners for the acquisition of residences.

The highest average mortgage amounts by nationality have corresponded to Germans (245,775 euros), Swedes (229,907 euros), Dutch (191,015 euros), British (190,644 euros), French (181,107 euros) and Norwegians (174,815 euros).

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