Brexit, Covid and a cost-of-living crisis have not killed off the dream of buying a home in Spain for the British. The latest figures confirm that UK nationals are still the biggest group of foreign buyers in Spain.
In fact despite Spanish PM Pedro Sanchez doing his bit to dissuade non-EU citizens from buying property in his country with talk of a supertax, foreign investors are still choosing Spain at record rates.
A week after the Spanish golden visa ended on 3 April, data from the Notaries of Spain showed that in the second half of 2024 UK nationals bought 6,048 homes, followed by Moroccans, Germans and Romanians.
There’s anecdotal evidence of many more Americans now buying in Spain, especially since the change of government – in the same period they purchased 1,432 homes, but that figure will no doubt increase during 2025. For some, Europe is now a safer investment for property, whilst others are motivated by cultural changes.
As a whole, foreign purchases remain high in Spain – they bought 10% more than in the same period of 2024 and spent 8.6% more. In fact, the price per square metre paid was the highest on record.
For many Britons, the fact that the cost of living in Spain is 30% less than the UK (numbeo.com) is a big driver, after a raft of rate increases in April.
Where are foreigners buying? All Spanish regions were up aside from the Canary Islands, and the biggest increases were especially seen in the north, led by Cantabria, Castile & León and Asturias, with Galicia not far behind. Climate change and affordability are key drivers – find out more.
How to move to Spain
Now that the golden visa has finished, those looking to move can consider the digital nomad visa, Non-Lucrative Visa, or talent and entrepreneur visa options. Not sure where to go? Try our interactive buying guide to buying in Spain!
