Sales of properties to foreign buyers forecast to drop 50%

In the second half of last year, four out of ten of all purchases were by non-resident foreigners, so "mobility difficulties between countries" are very important in determining how the foreign purchase market behaves.

The director of studies at pisos.com, Ferran Font, says that although the decrease is "drastic", especially for a country such as Spain, which is attractive to foreign residents, this is happening in real estate markets everywhere. The nature of the product and its "high price" means that it is essential that purchase decisions are made "in situ".

He adds that the "slow and unpredictable progress of the crisis, the lack of mobility and the fear of the virus" are the main causes of the drop in purchases by foreigners.

The regions being most affected are the Balearics, the Canaries, Andalusia, Murcia and Valencia. The website believes that, despite everything, the UK will continue to be the leading market, followed by France, China, Morocco, Germany, Italy and Belgium.