British buyers snap up 20,000 homes in Spain in three months

In the Balearics 35 percent of sales are no to non-Spaniards

New housing boom.

Jason Moore17/05/2022 13:29

British property buyers went on to a major buying spree in Spain during the first three months of this year, snapping up almost 20,000 homes, according to figures released this morning.

That works out at almost 225 properties per day from January to March this year. The British continue to be the undisputed kings of the property market in Spain with 12 percent of all sales to Britons. The Germans are a distant second with nine percent. In the Balearics, 35 percent of all new home sales are to non-Spaniards.

The British buying spree comes despite new Brexit rules which limit the amount of time non-resident British citizens can stay in Spain. There are now more than 420,000 British citizens living in Spain.