At the end of October 2022 we have known several reports informing of the Real Estate Market performance and some interesting details linked to the information that show the trends and discriminate the data as per the buyers nationality.
The main source for this article is a midterm report from the Spanish Notarial Chambers which produces interesting data, for starters, as many as 72.987 dwellings have been purchased by foreign people in the Spanish market along the first half of 2022, entitling the period as the higher foreign purchase rate in the whole of the Historic Trend which starts on 2007. Furthermore, these figures entail the 20.3% of the total number of dwellings sold all along Spain. These outstanding figures exmplifies a tie with the record reached on the second half of 2015, furthermore, the average price paid for the properties has reached top levels.
La Costa del Sol has a well stablished market of foreigners, mainly Britons, Germans, and Frenchs, which usually lead the charts, though for the period we are talking, Dutch, Norwegian and Irish people have had a paramount role: they lead the increase in the number of operations closed.
These mentioned Dutch, Norwegian and Irish individuals have doubled the amount of sales from the same cluster during first half of 2021. Quoting the report: “for the third consecutive semester, all the sales from foreign nationals have increased up to a 52.75%; but the higher growth have been experienced by Dutch (121.5%), Norwegian (119.5%) and Irish (106.7%) clients, the National Notary Counsel reports.
The Netherlanders bought 3.641 dwellings in Spain on that mentioned first half of 2022. Irish nationals purchased 1.395 properties, second higher rate since 2007. And eventually Norwegians have acquired 979 homes (best figures since 2018).