Spain has always been the go-to destination for wealthy Europeans looking for a paradise. Although the pandemic hit hard, now that restrictions are slowly lifting, the market is moving full-steam. Yet, it is not the same it used to be; demographics changed a lot.
Read on because the new winners of the race are about to be announced. There’s a new country leading the podium for non-Spanish buyers and we’re about to tell you who it is.
Buckle up because here we go.
The Real Estate Business Is Back Just That Slightly Different
Good news! Spain’s real estate market is recovering super-fast. This is thanks to the government loosing-up its restrictions in response to the declining coronavirus pandemic. Indeed, as people are being able to move more freely economy is reigniting to pre-pandemic numbers.
In this vein, property transactions have been consistently going up since last summer according to numbers by Real Estate Registry Statistics of the Association of Property Registrars. That being said, the Spanish are not the only ones deciding to buy a residency in this beautiful European country. Other countries are trying to call a piece of paradise their own as well.
Nevertheless, the known demographic for non-Spanish buyers has changed after the pandemic. Moreover, not only does the pandemic affect the numbers, but also international relationships among European countries.
Let’s Take A Look At What The New Podium Looks Like.
Who Are The New Leading Buyers in Paradise?
The sun-seeking British have always been the leaders when it came to buying properties in the Spanish territory. However, this has changed after the pandemic and the utterly polemic Brexit. Although fallen from the first place, they are still not far away from the winners, British buyers are number 2.
Why have they lost the first place? To begin with, the Registrars statistics show British citizens are still struggling with the economic and social consequences of the pandemic. Secondly, their economy is also trying to assimilate the aftermath of Brexit. As a consequence, they are, for the first time in a long time, not leading the list. They have lost the real estate podium to someone else.
Who are the new winners taking the market like a storm? Winners are German buyers who have purchased an outstanding number of properties and represent 10.4% of all house-acquiring by non-Spanish Europeans.
Translating this into hard numbers, we are talking about 1,680 out of 154,155 purchases between July and September 2021. Although removed from the top of the podium, British buyers came very close with a proud 9.9% (almost 1,600 properties).
The French, the Moroccans, and the Belgians complete the long list of non-Spanish European buyers.
The New Champions Know Where Paradise Is
It is no surprise that the breathtaking Spanish Islands and the Spanish Mediterranean coastal areas head the list of the most sought-after destinations. Indeed, most well-off Europeans choose to buy a residential property to have a home away from home where they can relax and enjoy the amazing weather and the most magnificent views of the Mediterranean Sea.
But that’s not the entire picture; those who decide to move to Spain for working opportunities tend to move to a wider variety of destinations. Some of them are:
- Catalonia (11%)
- Andalusia (11.3%)
- Castellon (10.2%)
Restrictions in the continent continue to slacken and Europeans become less hesitant to move around more freely. As a cascading effect from this phenomenon, the real estate demand keeps on moving upward. Join this trend before it’s too crowded and ensure a piece of Heaven to call your own today in the awe-inspiring coasts of Spain.