Spanish registrars have revealed the housing prices and foreign demand in the second quarter of 2023

What has happened? The Spanish Land Registrars' Association has published a report covering the main trends on the housing market for the second quarter of 2023.

Prices. The average annual price for housing in Spain was €1,952 per sq.m, reaching the highest level since the end of 2008.

In the case of new housing, the average price was €2,143 per sq. m., which is a historical record. On the other hand, the value of existing homes (€1,910 per sq.m) saw a slight decrease compared to the previous quarter, when the highest result since the beginning of 2011 had been reached.

Foreign demand. The demand for housing from foreign buyers has reached 14.9% of all sales, 0.4% up from the previous quarter, and represents the second-highest result in the historical series after the maximum reached in the third quarter of 2022 (15.9%).

Key facts:

• The British turned out to be the most numerous foreign buyers again with 8.8% of sales, followed by Germans (7.3%), French (6.6%), Moroccans (5.4%), as well as Italians and Romanians (5 .2%).
• The largest volumes of transactions with foreigners were registered on the Canary Islands (30.6%), the Balearic Islands (30.4%), the Valencian Community (29.9%), Murcia (23.6%), Catalonia (15.4%) and Andalusia (14.2%).

Source: Estadística Registral Inmobiliaria

Photo by Jorge Salvador on Unsplash

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