Britons continue to dominate the foreign property market in Balearics and Spain, United States growing fast

In fact, transactions by foreigners are very similar to 2022, after falling by only 1.7% year-on-year, and sealing around 87,400 operations, according to the aggregate data by quarter of the Registrars calculated by Idealista.

These calculations confirm the outstanding momentum of foreign buyers in the Spanish residential market. And where foreigners are most dominant is in the Balearics, surpassing in this case the Valencian Community.

In the Balearics, more than 30% of sales and purchases are carried out by foreigners, whether or not they are residents. The Canary Islands are the third most popular destinations for foreign investors.

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According to calculations based on quarterly information from the Registrars, home purchases by foreigners has grown in all the autonomous regions.

The British, Germans and French are still the market leaders, but other nationalities are on the rise. The British accounted for one out of every 10 foreign transactions, exceeding 8,000 purchases in 2023.

Behind them, Germans exceeded 6,000 transactions, exceeding 7% of the volume of foreign purchases. Meanwhile, the French are close to these 6,000 sales and purchases, just under 7% of the total. Moroccans, Belgians, Italians, Romanians and Dutch bought between 4,000 and 5,000 houses, respectively, with values between 4.5% and 5.5% of the total number of transactions among foreign nationals.

The permanence of Poles, Russians, Chinese and Ukrainians stands out, and a prominent position of North Americans, who this year may have broken their own record, with more than 1,300 transactions in Spain.