Real estate in Spain is seeing strong buying activity despite the slowdown in growth due to the coronavirus pandemic.
In today's article, we will talk about the performance of the real estate market in Spain during the first half of 2022 and how foreigners bought real estate in Spain during that period.
Last June saw the sale of 69,015 homes were sold across Spain, up 3% compared to the same period in 2021.
During the second quarter of the year, foreign demand for homes in Spain grew more strongly than domestic demand, with 24,029 homes sold in Spain, a 76% increase compared to the same period last year, while domestic demand increased by only 13%.
The table below shows the movement of Home sales in Spain to foreigners From 2013 to the first half of 2022, the table shows us that the demand for foreigners to buy real estate in Spain increased after the lifting of Corona restrictions, but during the second quarter of this year, the share of foreign buyers in the real estate market in Spain increased to 14.7%, which is the highest level ever witnessed, which shows the increasing demand of foreign investors for real estate for sale throughout Spain.
Foreign demand for real estate in Spain varied from several countries. Internationally, Poland obtained the first place with the highest increase in sales for Polish nationality by 223%, followed by the Netherlands by 162%, and witnessed a decline in the market share of the United Kingdom, Germany and France. As for the Arab world, Morocco took the first place, and internationally it was among the nineteen countries
countries buying real estate in Spain.
Real estate prices in Marbella, Spain rise by 63% :
From 2010 until the first half of 2022, real estate prices in Spain in the three cities (home to the luxury real estate market) most in demand by foreigners in Spain witnessed a significant increase in their real estate prices, over that period Ibiza, Marbella and Palma increased by 88%, 63% and 49%, respectively. The capital, Madrid, rose by only 11% and Barcelona by 10%.
Real estate sales in Spain grew by 23% (during the first half of 2022):
The latest statistics from the Spanish Statistics Authority (INE) the number of home sales in Spain through the first half of 2022, with 330,997 homes sold, registering a growth of 23% compared to the first half of 2021, which indicates a strong growth in sales in the current year until the end of last June.
The Statistics Authority recorded 22,026 homes sold in the state of Malaga, accounting for 6.65% of the total number of sales, while the capital Madrid accounted for 13.36% of the total sales with 44,244 homes and Barcelona with 33,685 homes.
In the end, all these statistics and figures we have mentioned indicate that there is still a strong wave of demand for real estate in Spain and we have seen that foreign investors are optimistic about the real estate market in Spain despite the great challenges facing the world today.
