In 2025, the allure of Spanish real estate continued to captivate foreign buyers, with a remarkable surge in transactions. According to the latest statistical report from the College of Registrars, nearly 100,000 transactions involving foreign buyers were recorded, marking a new record high for the country.
Foreigners acquired approximately 97,500 properties, which accounted for 13.8% of total sales in Spain. While this figure represents an absolute record, it also indicates a slight decline in the share of foreign buyers compared to previous years. Specifically, the percentage dropped by almost eight-tenths of a percentage point from 2024 and more than one percentage point from the peak in 2023, when foreign buyers constituted nearly 15% of transactions. This trend highlights a complex dynamic in the market, where the number of sales is increasing even as the proportion of foreign buyers slightly decreases.
The Property Registrars’ yearbook emphasizes that despite these fluctuations, foreign demand remains a significant factor in the resilience of the Spanish property market. The ongoing interest from international buyers underscores the attractiveness of Spain as a destination for real estate investment.
The Provinces with the Most Foreign Buyers
Foreign buyers have a pronounced impact on several coastal provinces, where they purchased at least one in five homes that changed ownership last year. Leading the charge is Alicante, where foreigners accounted for an impressive 43.29% of transactions in 2025. Following closely are Málaga (32.80%) and Santa Cruz de Tenerife (30.04%). Other notable provinces include the Balearic Islands (29.86%), Girona (25%), Las Palmas (21.72%), and Murcia (21.42%).
In contrast, Valencia saw foreign buyers make up only 12.23% of sales, while Madrid and Seville had even lower figures at 6.9% and 2.5%, respectively. Interestingly, only three provinces—Salamanca, Jaén, and Badajoz—recorded foreign buyer participation of less than 2%.
Reference Nationalities
When it comes to nationalities, the British continue to lead as the primary foreign buyers in Spain, although their market share is gradually declining in favor of other nationalities. In 2025, British buyers purchased 7,665 properties, representing 7.97% of all foreign purchases. Following them are the Germans (6,273 sales, 6.52%), Dutch (6,071, or 6.3%), Moroccans (5,524 transactions, 5.74%), Romanians (5,042, 5.24%), and French (4,918, or 5.11%).
The report also highlights geographical preferences among these nationalities. For instance, British citizens are the most active buyers in Andalusia, Murcia, and the Valencian Community, while Germans favor the Balearic Islands. The French are more inclined to purchase in Catalonia, Italians in the Canary Islands, and Chinese buyers are increasingly interested in the Community of Madrid.
Property Types and Surface Area
Foreign buyers tend to favor different types of properties compared to Spaniards. According to the land registry, only 21.54% of foreign purchases were new homes, slightly less than the 21.76% of Spaniards opting for new builds. Among the leading nationalities, the French (86.42%), Bulgarians (85.34%), and Moroccans (85.28%) predominantly purchased second-hand homes. In contrast, Polish (39.84%), Belgian (34.49%), and Dutch (32.91%) buyers showed a greater preference for new constructions.
Additionally, the average surface area of properties purchased by foreigners tends to be smaller than that of Spaniards, reflecting their preference for second homes rather than primary residences.
Record Purchases of Over €500,000
The real estate market in Spain reached historic highs in 2025, with average property prices soaring to €2,284/m2. Regions such as the Community of Madrid (€4,091/m2), Balearic Islands (€3,988/m2), Basque Country (€3,295/m2), and Catalonia (€2,709/m2) led the charge in terms of pricing.
This price surge has also contributed to a notable increase in transactions involving foreign buyers exceeding €500,000. For the first time, the proportion of homes purchased by foreigners for more than this amount has surpassed 12%. Four autonomous communities—Balearic Islands (41.79%), Madrid (24.4%), Andalusia (19.22%), and Catalonia (13.15%)—exceed this national average.
The registrars noted that this trend marks a return to the upward trajectory that had been interrupted in 2023, following seven consecutive years of growth. The acceleration in average property prices has played a significant role in this resurgence, with 53% of foreign buyers of properties costing over €500,000 coming from EU countries and 47% from non-EU countries.
