According to data from the General Council of Notaries, there were 76,680 purchases of homes by foreigners in 2015. This figure for the whole of Spain represented a rise of 13% and 20% of all transactions, while it confirmed the upward trend in foreign property buying since 2007.
In the Balearics, the increase was 22.3%, well above the national figure therefore. The price per square metre - 2,580 euros - was also above a national average for foreign buying of 1,598 euros. In terms of percentage increases, the Balearics was well down the list of regions by comparison with the leading regions, headed by La Rioja with a 59% rise. However, it was above typically more popular regions - Madrid with 17.3%, Andalusia 13.6%, the Canaries at 10.3%, Valencia 7.2% and Catalonia with 4.9%.
On a different measure, foreign purchasing in the Balearics was the highest in that 44% of transactions involved a foreign buyer. This was above the Canaries with 39%, Valencia 37% and Murcia and Andalusia both with 25%. In regions such as the Basque Country and Galicia this level of foreign activity was only around 4%.
The price paid per square metre by foreigners was higher in the Balearics than anywhere else. The three closest regions were the Basque Country (2,047 euros), Madrid (1,867 euros) and Catalonia (1,856 euros). The cheapest region was Extremadura with 576 euros.
For Spain as a whole, the British accounted for 20.6% of purchases, more than any other nationality, followed by the French (8.8%) and the Germans (7.5%). The largest percentage increases in terms of purchasing activity were Romanian (59%), Ecuadorean (43.1%) and British (37.7%).
One of the main factors behind the surge in the British market was the strength of the pound against the euro last year. However, over the past few months the pound has weakened.
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