The villages are becoming increasingly popular with foreigners. The large urban centers on the coast and on the beaches have been the main destinations for foreigners looking for a house. Times change.
Foreign citizens have played a role in significantly increasing home sales and purchases in Spain 17% of the more than 655,500 properties sold in 2021according to the General Council of Notaries.
Never before have foreigners bought so many houses in Spain
But although their weight has not yet reached pre-pandemic levels, it is striking that foreigners have never bought so many houses in Spain. The 111,743 completed transactions in 2021 exceeded the more than 103,600 in 2018, a historic maximum so far. Foreign residents are those who have bought the most homes with more than 66,600 operations versus 45,100 for non-residents.
Differences between resident and non-resident aliens
Among the resident foreigners Romanians and Moroccans deserve special mention in most Autonomous Communities, although in the Valencian Community the British lead the way Germans in the Balearic Islands and Italians in the Canary Islands. Among non-resident aliens The British and French top the list in almost all regions. According to notaries, they will be accompanied by Germans, Belgians and Americans.
However, if we move away from foreign trades in the main coastal markets such as Torrevieja, Malaga, Marbella, Alicante and Valencia, as well as in the big capitals Madrid and Barcelona, we discover that Small towns are increasingly attracting foreigners.
Villages that attract more foreigners than Spaniards
This is the result of a study by the real estate portal idealista, which analyzes in more detail the cities that arouse even more interest among foreigners as a Spaniard to buy a house.
This is what the village looks like the most wanted is Fuente Obejunain the province of Córdoba, where 77% of the visits received in recent months have come from abroad.
Two parishes of Salamanca, Garcirrey and El Milano, complete the podium with 69% and 66% of the visits they received from international sources. The next city on the list is Cala Ratjadaon the island of Mallorca, with 63% of searches coming from abroad, followed by Laroya (Almeria) with 61%, Valle Gran Rey (on the island of La Gomera) with 57% and Competa (Málaga) also with 57%.
For this study, idealista has measured the origin of visits to properties for sale on its portal in municipalities with fewer than 5,000 inhabitants over the last three months.
The most searched Spanish provinces from abroad
The provinces that recorded the highest proportion of home purchases by foreigners last quarter are Alicante (40.7%), the Balearic Islands (35.4%), Málaga (33.7%), Santa Cruz de Tenerife (32.1%) and Girona (27.9%). And in these provinces, foreigners show great interest in small towns.
Ciudad Quesadain Alicante received 55% of international visits while Canillas de Albaida and sayalonga (both in Malaga) received 54%. The cities of Benitachell (Alicante), Cala Millor (Majorca), Arboleas (Almeria) and Cala Bona (Majorca) received 53% of visits from foreigners.
Sa Coma (Mallorca) and the city Gomeran of Alajero (Santa Cruz de Tenerife) accounted for 52% of searches Albanchez (Almeria), Deja (Majorca), Cala D’Or (Majorca) and Lubrin (Almeria) accounted for 51%. After all, the cities of throw (Granada) and Portbou (Girona) are equally interesting for foreigners and locals.
Different prices between these cities searched by foreigners
Let’s look at the asking prices for homes for sale in these cities with fewer than 5,000 residents, the Balearic Islands are clearly in the leadwith prices like those of Deya (5,889 euros/m2), according to the latest idealista report, or Cala d’Or (3,926 euros/m2).
The cities of Benitachell and Ciudad Quesada, both located in the province of Alicante, are below 3,000 euros/m2 at 2,944 euros/m2 and 2,303 euros/m2 respectively. The Mallorcan towns of Sa Coma (2,676 euros/m2) and Cala Millor (2,276 euros/m2) are also in this price range between 2,000 and 3,000 euros/m2.
In contrast, the cheapest prices among these cities are concentrated in Fuente Obejuna, in Cordoba, with only 359 euros/m2. These cities have the lowest prices few inhabitants and little supply on the market.
According to the offer currently available, Laroya (Almería) reaches 377 euros/m2, while the two cities in the province of Salamanca, Garcirrey (400 euros/m2) and El Milano (458 euros/m2), as well as two other municipalities in Almería such as Lubrín ( 615 euros/m2) and Albanchez (657 euros/m2), all under 1,000 euros/m2, support them.