Moroccans Shine in Spain’s Real Estate Market
Rabat – In a remarkable display of investment interest, Moroccans have emerged as the second-largest group of foreign homebuyers in Spain, with a total of 5,154 purchases recorded in the latter half of 2025. This trend underscores the growing affinity between Moroccan buyers and the Spanish real estate market, despite a slight overall slowdown in activity.
Foreign Buyers’ Strong Presence
During the second half of 2025, foreign buyers collectively purchased over 66,000 homes in Spain, reaffirming their significant role in the housing market. According to data from Spain’s General Council of Notaries, there were 66,629 transactions from July to December, reflecting a 4.4% decline compared to the same period in 2024. This slight dip, however, does not diminish the robust presence of foreign investors, who accounted for nearly two-thirds of all transactions.
Ranking of Foreign Buyers
British buyers retained their position at the top of the list, with 5,178 purchases, closely followed by Moroccans, who were just 24 transactions behind. This close competition highlights the increasing interest of Moroccan nationals in Spanish properties. Italians ranked third, surpassing Germans, while Romanians rounded out the top five. Notably, Moroccans represented 12.1% of all foreign resident purchases, showcasing their prominence in the market.
Regional Preferences
Moroccan buyers have shown a particular affinity for regions such as Murcia, Navarra, Aragón, and Castilla-La Mancha. These areas have become hotspots for Moroccan investment, reflecting a strategic choice for those looking to settle or invest in Spain. Meanwhile, Italians have made their mark in the Canary Islands, Madrid, and Valencia, indicating diverse preferences among foreign buyers.
Price Dynamics
Interestingly, Moroccan buyers recorded the lowest average price per square meter at €768, significantly below the overall foreign average. In contrast, Swedish buyers commanded the highest prices, exceeding €3,600 per square meter. This disparity in pricing highlights the varied investment strategies and financial capabilities among different nationalities.
Trends Among Non-Resident Buyers
The data also reveals a notable decline among non-resident buyers, who experienced a sharper drop of 15.1%. This trend suggests a cooling off after the post-pandemic boom, as many investors reassess their strategies in light of changing market conditions. Overall, foreign buyers constituted 18.4% of Spain’s housing market in the second half of 2025, down from 19.5% a year earlier.
Rising Prices Amidst Declining Transactions
Despite the decrease in transactions, property prices continued to rise. The average price paid by foreign buyers reached a record €2,479 per square meter, marking a 5% increase year-on-year. Non-residents paid an average of €3,242 per square meter, while foreign residents averaged €1,963. These figures remain higher than what Spanish buyers typically pay, indicating a premium on properties purchased by foreign investors.
Shifts in Key Markets
While foreign purchases have declined in major markets such as Madrid, the Canary Islands, and Andalusia, there has been an uptick in regions like Castilla-La Mancha and Extremadura. This shift suggests that buyers are exploring opportunities beyond traditional hotspots, potentially seeking better value and investment prospects in less saturated areas.
Conclusion
The landscape of Spain’s real estate market is evolving, with Moroccan buyers playing a pivotal role in shaping its future. Their growing presence, coupled with the dynamics of pricing and regional preferences, paints a picture of a vibrant and competitive market that continues to attract foreign investment.
