According to notaries, foreigners carried out 63,934 real estate transactions in the second half of 2021, 41% more than in the second half of the year of the health crisis. In addition, operations carried out by foreigners represented 18.6% of total sales throughout the country, in line with the average for the period between 2012 and 2019. Even between July and December, more than half of the transactions were carried out by foreigners made resident foreigners.
All the autonomous communities have registered an increase in operations, led by the Balearic Islands (81.5%), the Canary Islands (57.1%), Andalucía (55%), Cantabria (50.5%) and the Valencian Community (44.9%). On the opposite side of the table are Galicia and Castilla y León, with increases of less than 10%.
But what has attracted the most attention in the notarial statistics is the average price that foreigners have paid when buying homes in Spain. On average, foreigners have paid 2,016 euros per square meter in the second half of 2021, 14.3% more year-on-year. This is the highest figure since the second half of 2008 (€2,125/sqm) and is 31% higher than what was disbursed on average in the second half of 2013, which remains a historical low (€1,540/sqm). This average price includes that of purchases made by resident and non-resident foreigners.
In the case of non-residents, the average price has reached record highs after staying close to 2,500 euros per square meter. Specifically, notaries put the average price at €2,481, after rising 11.8% year-on-year, renewing the record that had already been broken in the first half of the year (€2,452/m²). In the case of resident foreigners, the average price stood at €1,567/m², the highest figure since the first half of 2011.
In any case, both averages are above what national buyers paid in the second half of last year (€1,503/m²), maximums of a decade ago.
The nationalities that pay the most
The British have once again been the foreigners who have carried out the most home sales in Spain. Specifically, the British formalized 7,560 transactions between July and December (11.9% of the total), followed by the Germans (10.4%) and the French (8.3%). The group of nationalities that includes the rest of foreigners from outside the EU accounted for 11.4%.
Regarding the year-on-year variation, the sales that grew most intensely were those carried out by the Dutch (104.1% year-on-year), the Irish (99.3%) and the Germans (84.9%).
Therefore, notaries explain that the highest average prices per square meter were paid by buyers from Sweden (€2,752/m²), Denmark (€2,750/m²), Germany (€2,741/m²), USA (€2,601 / m²) and Switzerland (€2,479/m²). Buyers from Norway, the Netherlands, Russia, France, Italy and Belgium also exceeded the average price paid by foreigners as a whole (€2,016), while the lowest prices were paid by Moroccans (€688/m²), Romanians (€990/m²) and Ecuadorians (€1,087/m²).
The prices that grew the most were those of purchases made by Americans (23.4%) followed by Argentines (19.6%). On the other hand, only the prices paid by nationals from China (-5.2%) and Russia (-1.6%) fell.