Foreign investors are returning to the Spanish Property Market After COVID-19

The аctivity of foreign buyers in Spanish property market is gradually recovering and is approaching the "pre-COVID" figurеs. Thus, as stated by Idealista, in the second quarter of 2021, 11.3% of all property sales in Spain involved foreign investors.

Most of the sale contracts included buyers from Germany, France and the UK. Germans prefer Valencia and the two Spanish archipelagos: the Balearic and Canary Islands, the French choose neighbouring Catalonia, and the British opt for Andalusia and the Costa Blanca. Next up are investors from the US, Italy and Switzerland.

Foreign buyers pay attention to the Mediterranean coast of Spain to buy a holiday home, especially in the eastern, the warmest part of the Iberian Peninsula. Below are the most popular cities where foreigners buy property in 2021 in the demanded coastal regions and provinces, moving from north to south:

• Girona: Castell Playa de Aro (€2968/m²), Begur (€2864/m²)
• Barcelona: Barcelona (€3987/m²), Montgat (€3050/m²), Sitges (€3782/m²)
• Valencia: Alboraya (€2234/m²), Gandia (€1046/m²), Valencia (€1830/m²)
• Alicante: Alicante (€1468/m²), Torrevieja (€1432/m²), Benidorm (€2114/m²)
• Murcia: La Manga (€1528/m²), Aguilas (€1059/m²), Cartagena (€1142/m²)
• Andalucía: Almería (€1164/m²), Málaga (€2136/m²), Estepona (€2379/m²), Sotogrande (€2386/m²).

Also the most popular resorts in the Spanish islands to buy homes in the summer of 2021 are the following:

• Balearic Islands: Andratx (€5177/m²), San Jose (4881/m²), Ibiza (4829/m²)
• Canary Islands: Mogán (€3032/m²), Adeje (€2623/m²), Las Palmas de Gran Canaria (€2017/m²).

In addition to the popular destinations, northern and north-western areas of the country are gaining popularity among European buyers. These are the places overlooking the Bay of Biscay and the Atlantic Ocean, such as the Basque Country, Cantabria and Galicia. In the Basque Country, the regional capital San Sebastian (€4858/m²) and Saraus (€4532/m²) are on top of the list, in Cantabria it is Santander (€1993/m²) and in Galicia – La Coruña (€2141/m²).