The number of foreigners buying property in Spain is still 37% above the pre-pandemic five-year average, Spanish Property Insight Data Hub analysis shows.
This is despite the number of home purchases by foreign buyers falling 7% year-on-year, to 21,525 sales.
Sales are up 32% from 2019 in Q1, while still being behind 2022 and 2023 levels.
By nationality, Irish (11%) and Ukrainian (8%) buyers increased the most, whilst French (-24%) and Russian (-20%) buyers declined the most.
US buyers fell by -16% after a period of strong growth since the pandemic.
Regionally there’s been a 7% increase in transactions in Murcia in South Eastern Spain, as well as a 2% rise in Madrid.
However there was a strong reduction of -17 in the Canaries, the island region near Morocco and Western Sahara.
Data Hub analysed data from the Land Registry and Spanish Housing Ministry.
