Spain reports record growth in demand from foreign buyers

In the first quarter of 2025, foreign investment in Spanish property reached a historic high.

According to statistics from the Property Registry, foreign citizens acquired 21,525 residential properties in Spain in the first quarter of 2025. This value even surpassed the record levels from the post-Covid boom in 2022–2023, showing sustainable organic growth in demand without the influence of temporary factors.

The share of foreign buyers in the Spanish property market continues to grow. If before the pandemic it was an average of 12.6%, it now reaches 14.1%, approaching an absolute historical record. It is impressive that foreign demand has increased by 19% year-on-year, almost as much as the domestic market, which has recorded a growth of 20%. Compared to the average values for the last ten years, interest from foreigners has increased by 50%, while domestic demand has increased by 40%.

Main buyers among foreigners
Traditionally, the greatest interest in Spanish properties is shown by British citizens, who completed 2,110 transactions in the first quarter. They are followed by Germans (1,626 transactions), Dutch (1,549) and French (1,314), who surprisingly fell out of the usual top three.

The most impressive annual growth was recorded among American buyers – their activity increased by 57% (520 transactions). The Dutch (+36%) and the British (+7%) also recorded significant growth, while Russian buyers decreased their activity by 6% (540 transactions). Demand from Ukrainians increased by 33% year-on-year, with 876 transactions in the first quarter.

Potential risks
Despite the positive dynamics, there are factors that may influence the future development of the market:

• Political uncertainty – Prime Minister Pedro Sanchez's proposal to restrict purchases by non-residents from non-EU countries could affect British, Russian and American buyers.

• Power system problems – a recent national power outage linked to problems in renewable sources could undermine investor confidence.

However, fundamentals remain solid. Spain continues to be perceived as a safe and attractive jurisdiction for real estate investment, as confirmed by the activity of both foreign and local buyers.

Examples of residential properties in Spain:

• €308,000
  Apartment in Los Alcázares, Spain
  105 sq m | 4 rooms | 3 bedrooms | 2 bathrooms

• €860,000
  Villa in Finistrat, Spain
  165 sq m | 4 rooms | 3 bedrooms | 3 bathrooms

• €239,000
  Apartment on the Costa del Sol, Spain
  93 sq m | 2 rooms | 2 bedrooms | 2 bathrooms

Based on materials from prianproperty.com