Moroccans top the list of home buyers in Spain

In the first half of this year, Moroccans made a significant contribution to the Spanish property market. Recording a 7.3% increase in acquisitions, they rank third among foreign buyers, after the British and Germans.

Despite a recent 7.5% drop in real estate transactions involving foreigners in the first half of this year, the figures remain significant, totaling 67,983 sales. This decline brings to an end a series of four consecutive six-month periods of growth, according to data from the Conseil Général du Notariat.

However, it is important to note that these transactions continue to represent a substantial share of the market, peaking at 21.4% of the national total, a record since records began.

Analysis of transactions reveals an interesting distinction between resident and non-resident foreigners. While residents accounted for the majority of foreign buyers with 56.8% of transactions, a slight decline of 3.4% on the previous year was recorded. On the other hand, non-residents accounted for 43.2% of transactions, down 12.4%.

As far as prices are concerned, non-resident foreigners continue to pay higher amounts, averaging 2,598 euros per square meter, compared to 1,676 euros for residents and 1,574 euros for nationals. This trend suggests a preference for high-quality or well-located properties.

On the other hand, the breakdown by nationality of foreign buyers reveals a strong presence of British nationals, accounting for a significant 9.6% of total transactions, closely followed by Germans, who contribute 8.1%, and Moroccans, whose active presence on the real estate market reaches a notable 7.3%.

Despite annual variations, it is interesting to note that certain nationalities have increased their transactions, such as Russians (+50.2%), Ukrainians (+41.6%) and Americans (+13.6%). This diversity in buying behavior among nationalities underlines the importance of considering trends specific to each group.

Swedish (3,036 euros per square meter), Danish (2,930 euros), American (2,921 euros), Swiss (2,812 euros), German (2,724 euros) and Norwegian (2,584 euros) buyers paid the highest average prices per square meter. In contrast, Moroccans (689 euros per square meter), Romanians (1,086 euros) and Ecuadorians (1,335 euros) faced more moderate prices.

The biggest price rises were recorded by Russians (+15.2%), Swedes (+11.9%) and Ecuadorians (+11%), while the biggest price falls were recorded by Norwegians (-4.3%), Dutch (-2.7%), Romanians (-1.1%), Moroccans (-0.6%) and Portuguese (-0.5%).