Foreign buyers almost hit the 100,000 sale mark in Spain as they continue to gobble up property market – Brits still king

BRITS was again Spain’s top foreign home buyer last year. They purchased thousands of homes as overseas purchases edged closer to 100,000 despite rising prices.

The UK is still Spain’s largest market overseas. Buyers continue to prefer established hotspots on the Costa del Sol and in the province of Alicante, as well as the Balearic Islands.

Agents report that the profile of British purchasers is changing. Agents say that the profile of British buyers is evolving.

READ MORE: The historical Spanish town where foreign property buyers are welcome because ‘they don’t distort the market’

One interesting aspect is the number of homes that are purchased outright. 

Three out of ten homes sold in Spain in the past year (roughly 206,000) were bought without a mortgage. 

Foreign buyers are more likely to use cash deals, as they rely heavily on their savings, pension payments, or property sales from home.

The UK is not the only country to have a high ranking.

READ MORE: New €650m, 200-room Four Seasons Hotel in Marbella takes another step forwards on sprawling site near El Pinar

German, Dutch and French purchasers remain active, especially along the Mediterranean and Balearic coasts.

Scandinavian buyers also make up a large part of coastal hotspots despite not being among the top five nationalities according to the latest registry breakdown.

Eastern European buyers, in particular Polish purchasers, are increasingly visible on coastal markets.

The Polish have joined the Romanians, who are well-known as both residents and investors.

READ MORE: Spain’s property market sees post-Christmas surge with prices up nearly 4% since November – popular expat hotspots especially hit

The number of foreign home buyers in 2025 will be the highest ever recorded.

The housing market in Spain has reached its highest level since the financial crisis.

These foreigners make up only a small 13.8% of the total market, showing that regional dominance does not translate to national levels.

Property registrars warn that the pace of growth in prices cannot continue forever.

For the moment, however, it is the British who are driving the overseas demand that has been a key factor in Spain’s boom.

The Olive Press has more property news. Click here to view them.