Sun, Sand, and Serenity: Foreign Buyers Flock to Spanish Shores Despite Pandemic Hiccup

Dreaming of a sun-drenched escape after the long lockdown blues? You’re not alone! New data from idealista/data reveals that international buyers still have their sights set on Spanish property, despite a temporary dip due to COVID-1.

While the pandemic put a damper on foreign property searches in 2020 (almost 4% decrease compared to 2019), the allure of Spain’s coastline remains undeniable. Think crystal-clear waters, charming towns, and balmy evenings – the perfect antidote to a cooped-up year.

This trend isn’t just a flash in the pan. The report highlights that foreign buyers are a significant force in the Spanish property market, accounting for a whopping 9.5% of searches on idealista, Spain’s leading real estate website.

Where are Foreign Buyers Setting Up Shop?

So, where exactly are these sunshine seekers headed? The answer is clear: the coast! Mediterranean havens like Alicante, Santa Cruz de Tenerife, and Malaga are hotspots, with foreign buyers making up nearly a quarter of all property searches in those regions.

But wait, there’s more! The Spanish archipelagos, the Balearics and Canaries, are also major draws, offering a unique blend of island life and Spanish charm.

Interestingly, the search criteria for these international buyers prioritize tranquility over bustling cityscapes. They’re chasing peace, quiet, and of course, those picture-perfect beaches.

Cities Still Sparkle for Foreign Investors

While the allure of the coast is undeniable, some Spanish cities hold their own charm for international investors. Tourist hotspots like Barcelona and Valencia see a higher concentration of foreign searches compared to their surrounding areas.

This isn’t just about sandy shores though. Inland gems like Seville and Madrid, along with historic cities like Segovia and Toledo, pique the interest of foreign property seekers as well.

But here’s a twist: for provincial capitals, the trend flips. Similar to the coastal havens, Alicante, Palma, and Malaga lead the pack in foreign buyer interest.

Who’s Who in the Spanish Property Market?

The report also dives into nationalities, revealing interesting preferences:

  • Brits Rule the Roost: The UK takes the crown for searches in 20 provinces, with a particular fondness for areas like Alicante, Malaga, and Cadiz – no surprise there!
  • French Flair by the Sea: French buyers follow closely behind, particularly drawn to the charm of Valencia, Barcelona, and coastal regions.
  • Beyond the Beach: Americans set their sights on inland areas like Madrid and Salamanca, while Germans seek a mix of coastal paradises (think Balearics) and historic destinations like Toledo.
  • A Neighborly Affair: Portugal shows interest in bordering regions like Huelva, and Italy sets its sights on the Canary Islands.

Looking for Your Slice of Spanish Paradise?

This data paints a clear picture: the Spanish property market remains a magnet for international buyers, even amidst a pandemic. If you’re dreaming of a sun-kissed life in Spain, this report offers valuable insights into where your fellow international home-hunters are flocking.