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Foreign buyers break new record in home purchases, acquiring 15% of houses sold in 2023

In 2023, foreigners purchased a record high of over 87,000 houses in Spain out of a total of 583,000 transactions. This represented nearly 15% of the homes sold and was a significant increase from previous years. Despite a decrease in the three most common nationalities buying houses in Spain – British, German, and French – three communities in the Mediterranean region, Murcia, the Valencian Community, and Catalonia, saw significant growth in foreign purchases.

The Balearic Islands remained the top destination for foreign buyers, with 31.5% of total home purchases coming from non-Spanish nationals. However, four communities saw a decrease in foreign market share last year. Overall, foreign demand has been a significant factor in the strength of the housing sales market in Spain, with two consecutive years of growth after a period of decline.

Alicante led the provinces in foreign home purchases, with almost 44% of homes sold to non-Spanish buyers. The British remained the largest group of foreign buyers followed by Germans and French. However, other nationalities such as Moroccans, Belgians, and Italians also saw an increase in home purchases last year.

The distribution of foreign purchases points to factors such as tourism, retirement in Spain and a growing labor market attracting migrants. While some regions may have seen decreases or stagnation last year due to changes in economic conditions or geopolitical events like Brexit and Covid-19 pandemic restrictions on travel and immigration policies; others continue to see strong demand from international buyers who appreciate Spanish culture and lifestyle along with its favorable climate and lower cost compared to other European countries.

In conclusion, despite fluctuations caused by external factors such as global economic instability or political developments like Brexit or covid-19 pandemics; Spain’s real estate market remains attractive to international buyers due to its unique selling points that make it stand out among other countries such as affordable prices compared to Europe’s major cities while still offering stunning coastlines and beautiful landscapes for leisure activities.

By Samantha Jones

As a dedicated content writer at newsaca.com, I bring a unique blend of creativity and precision to my work. With a passion for storytelling and a keen eye for detail, I strive to craft engaging and informative articles that captivate our readers. From breaking news to thought-provoking features, I am committed to delivering content that resonates with our audience and keeps them coming back for more. Join me on this exciting journey as we explore the ever-evolving world of news and information together.

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