Costa News Spain Breaking News | English News in Spain.
A number of REAL estate agents report that foreign buyers are searching for homes outside the traditionally popular areas in Spain.
Instead of immediately choosing the Costa Blanca, or Costa del Sol as the destination, agents have noticed a trend towards looking at different parts, particularly the north.
Paloma Pérez, Spain’s executive Director of Sotheby International Realty, said the El Pais Newspaper: “This type of buyer is on the rise in northern areas.”
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Last summer, a number agencies reported that the desire to expand horizons had begun to grow.
The number of American buyers in places like Galicia, the Cantabrian sea and other areas is on the rise.
Rafael Rosendo of the Lucas Fox agency Galicia confirmed this trend. El Pais: “Foreign interest has gone up since summer especially in properties over €1 million, and a high percentage of interest has come from people who have family links to Galicia.
Rosendo said, “In 2024 in Vigo we sold to a Galician immigrant who lives in the United States the most expensive triplex and we also sold last week a penthouse to a Canadian with his father living here.”
One agent said that American buyers were on the rise due to the political situation in the United States following Donald Trump’s return to the White House.
Home owners from Madrid who are of Latin American descent also purchase a second home in the Pyrenees Mountains to enjoy skiing.
It is not just the cooler temperatures in the north that are attracting buyers. They may also be looking to purchase a second property or even look elsewhere.
Rosendo quoted an example of a German couple from Altea on the Costa Blanca who paid €1.8 million for a Galicia home ‘to escape the summer heat’.
CaixaBank Research found that in Galicia, the increase in sales of property by region in 2013 was 22.2%.
This was followed by La Rioja (with 20%), Castilla La Mancha (19.4%), Asturias(18.6%), Cantabria16.4%), Navarra15.4% and the Basque Country13.8%.
It is not just foreign buyers who are responsible for the increase, but rather a shift in the local market.
Jose Andres of the San Fernando Real Estate Group said El PaisCantabria is not seeing much foreign interest, but we are getting an increase of domestic buyers who are moving because of climate change.
