Foreigners continue to show significant interest in buying residential property in Spain. According to the Property Registrars, the number of home purchase transactions by foreigners in the first quarter again approached 25,000 (24,791). This is the fourth-best figure in the entire observation series, exceeding the results of 2025, although it is 3.2% lower than a year ago (more than 25,600 properties – the second-highest figure in the series).
Who is buying homes in Spain
58.3% of transactions were made by citizens of EU member states, 16.8% by the rest of Europe, 9.1% by Africa, 6.5% by Asia, 5.7% by South America and 3.6% by the rest of the world. By number of home purchase transactions in Spain, the British continue to lead – 6.8% of all transactions. They are followed by the Dutch (6.6%), Moroccans (6.2%), Germans (6%), Italians (5.5%), Romanians, French (5.2% each) and Poles (4.6%). In absolute figures, the ranking is as follows: British (1,668), Dutch (1,604), Moroccans (1,518), Germans (1,489), Italians (1,353), Romanians (1,272), French (1,272) and Poles (1,126).
Regions where the number of transactions is growing
As for the distribution by autonomous communities, quarterly growth was recorded in 12 of them. The most notable increases were seen in the Balearic Islands (28.9%), the Valencian Community (28.2%), the Canary Islands (22.8%), Murcia (21.7%), Catalonia (15.4%) and Andalusia (13.2%).
Looking at the situation at the provincial level, it can be seen that more than a third of transactions were completed by foreigners – for example, in Alicante (44.6%) and Málaga (34.3%). A significant share of their purchases was recorded in the Balearic Islands (28.9%), Santa Cruz de Tenerife (26%), Girona (24.7%), Murcia (21.7%), Las Palmas (20.1%), Almería (17.8%) and Tarragona (15.2%).
The key factor determining the greater or lesser share of home purchases by foreigners is the intensity of tourist flows. In this regard, Mediterranean provinces and islands with similar characteristics occupy the leading positions.
Housing prices and sales dynamics
In the first quarter of 2026, the average price of housing in Spain increased by 8.9% year-on-year to €2,429/m2, reaching another historic high. At the same time, the number of home purchase transactions showed a slight year-on-year decrease of 1.9% – to 701,828 operations, although it still remains at the highest level since the third quarter of 2007.
In the case of resale housing, prices increased by 9.6% year-on-year to €2,294/m2, while new-build prices rose by 6.9% to €2,495/m2. The new housing market showed quarterly growth of 7.2%, with 39,473 purchase transactions, while 138,623 transactions were concluded for resale housing (-2% quarter-on-quarter). In 10 autonomous communities, as well as in 30 provinces, a quarterly decline in the number of purchase transactions was recorded.
By region, the highest average prices were recorded in the Community of Madrid (€4,407/m2), the Balearic Islands (€4,173/m2), the Basque Country (€3,474/m2) and Catalonia (€2,852/m2). As for provincial capitals, the highest prices were seen in San Sebastián (€6,154/m2), Madrid (€5,428/m2), Barcelona (€4,922/m2), Palma (€4,202/m2) and Bilbao (€3,685/m2).
Mortgage market
The number of housing mortgages registered in the first quarter grew by 15.2% year-on-year, reaching 513,092. Quarterly growth occurred in seven autonomous communities, with the highest figures recorded in Andalusia (27,270), Catalonia (24,254), Madrid (20,379) and the Valencian Community (15,640). In turn, mortgage debt per square meter increased for the twelfth consecutive time (by 2.6%), reaching an average amount of €1,808.
