Middle-aged foreigners are the main buyers of luxury homes in Spain

Recently, foreigners have become the main buyers of the luxury homes for sale in Spain. They may be retirees, but more and more often they are professionals who work remotely and only need to travel back to their home country from time to time for face-to-face meetings. This group of “digital nomads” is led by Americans, Belgians and the Dutch, who, according to a report prepared by the property companies Fotocasa and Infinitum, are very interested in buying luxury residential property.
Luxury homes are most in demand among middle-aged buyers, especially those aged 46 to 55, who account for 37% of demand. They are followed by buyers aged 56 to 65 (26%), 36 to 45 (24%), and 23 to 35 and 66 to 81 (7% each).
The agency Walter Haus Real Estate notes that this summer the buyers of this type of property were investors from Europe, Latin America and the Middle East. In recent months demand has risen by 30%, above all in urban areas with high purchasing power and in coastal towns. According to the company, this is due not only to the completion of deals started back in the spring, but also to the fact that “the arrival of foreigners who use their holidays in Spain to invest has triggered a new search for homes”.
Meanwhile, the Idealista portal has compiled a ranking of the most viewed luxury properties. First place went to a six-bedroom villa of 369 m² in the Asturian village of Cabueñes, near Gijón, priced at €1.25 million. Apart from this one, the properties attracting the most attention are mainly in the Balearic Islands and Madrid.
The Spanish capital is home to the second most popular property: an €8.8 million apartment in the Jerónimos district. It has 383 m², 11 balconies and four bedrooms, and is in a building dating from 1900.
Next come two villas in Ibiza and a chalet with a guest house in Mallorca. For €3.2 million you can buy a five-bedroom property of 257 m² in Ibiza on a plot of more than 8,500 m². The other villa on the island has 380 m² and six bedrooms and costs €3,900,000, while the house in Mallorca is on sale for €4,980,000.