What is the profile of foreigners looking for luxury homes in Spain and which places do they prefer?

The luxury real estate sector in Spain, homes worth over one million euros, attracts many foreign investors. Where do these buyers come from and what is their profile?
There are some countries where their large fortunes have a special interest in Spanish luxury homes. Among these, Germans are the ones who stand out, accounting for 18% of luxury property searches, according to the latest study published by Idealista.

In second place are the British (11%), closely followed by the French (10%), Americans (9%) and Dutch (7%).

6-bedroom Villa in Altea with spectacular sea views (price: € 5,900,000)
6-bedroom Villa in Altea with spectacular sea views (price: € 5,900,000)

Which areas of Spain are the most attractive for the wealthiest?

Foreigh interest in luxury housing is mainly concentrated in 10 provinces, which account for 93% of viewings of properties worth more than one million euros in Spain.

The Balearic Islands are the favourite area for non-Spanish high net worth buyers, as 29% of foreigners' searches for luxury homes are concentrated on the islands. In this area, the main high-end property buyers are Germans (36% of all foreigners' searches), British (11%), French (8%), Dutch (8%) and Swedes (5%).

The ranking of the 10 provinces of the highest interest among buyers of luxury homes includes Malaga, which accounts for 16% of luxury property searches by foreigners. They are British and Swedish (12% in both cases), followed by Germans (9%), Dutch (8%) and Americans (7%).

Who buys the most expensive property in Spain and where
Who buys the most expensive property in Spain and where
Third place in the ranking goes to Madrid, with 15% of searches. Although the distribution in the region is very even, the USA is the country from which most viewings of luxury homes in the region are registered (18%), followed by the United Kingdom (9%), France (6%), Mexico (5%) and Portugal (5%).

Barcelona took fourth place with 11% of luxury searches by foreigners. Viewings from American citizens are the most frequent (14%), followed by Germans (9%), British (9%), French (9%) and the Dutch (5%).

Fifth place goes to the province of Alicante, which accounts for 8% of luxury searches in Spain by foreigners. The Dutch are the most active (15%), followed by Germans (14%), British (11%), French (10%) and Swedes (6%).

Next comes Girona (4% of all searches), where the French are the most interested (39%), followed by the Dutch (13%), Germans (10%), British (7%) and Americans (6%).

Seventh and eighth place in the ranking are the Canary Islands provinces, which share 3% of international searches in each of them. In both provinces, the nationality most interested in luxury properties is Germans, with 26% in the case of Santa Cruz de Tenerife and 24% in Las Palmas. They are followed by the British, with 11% in both island provinces; the Italians, with 9% in both cases, and the French, with 8% also in both cases. Poles are the fifth most active nationality seeking to buy expensive property in Santa Cruz de Tenerife (6%), while this position is held by Swedes (6%) in Las Palmas.

Valencia is the ninth most interesting market for these international buyers (2%). The main foreign expensive property searches in the province come from France (13%), the USA (12%), the UK (11%), Germany (10%) and the Netherlands (8%).

The ranking closes with the province of Cádiz, with 2% of the total number of luxury searches. The British are the ones who search there the most (23%), followed by Germans (18%), Americans (10%), French (8%) and Dutch (6%).

Source: https://www.expansion.com/inmobiliario/mercado/2021/09/14/61405f80468aeb902e8b4579.html

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