Moroccans became the leading foreign homebuyers in Spain during the first six months of the year, surpassing other nationalities in property purchases across most autonomous communities, according to Spanish news outlet The Objective, citing data from the Notaries’ Statistical Information Center.
However, the same source noted that Moroccans did not hold the top spot in Galicia and Madrid, where Portuguese and Chinese citizens led in property purchases, respectively.
The Objective noted that Moroccans purchased 5,452 homes by June, followed by Romanians with 4,388 and Italians with 4,332.
For non-residents, the notarial data showcased that French nationals led property purchases in Aragón, Cantabria, Castilla y León, Catalonia, Extremadura, Galicia, and Navarra, surpassing Americans, Germans, and Britons.
Americans, however, were the top non-resident buyers in Castilla-La Mancha, the Basque Country, and La Rioja, while Germans dominated the islands, and Britons led in Andalusia and Murcia.
Foreign property purchases returned to positive growth, emphasized The Objective, with transactions by both residents and non-residents rising by 1.8% year-on-year, totaling 69,412 in the first six months of 2024.
It explained that this growth follows a 10% year-on-year decline in the second half of 2023. Foreign buyers accounted for 20.4% of total transactions, slightly below the 2023 average of 21.1%.
For context, Moroccans made a significant contribution to the Spanish property market last year as well, recording a 7.3% increase in acquisitions, ranking third among foreign buyers after British and Germans.
The Conseil Général du Notariat indicated that, despite a recent 7.5% decline in real estate transactions involving foreigners in the first half of last year, the figures remained notable, totaling 67,983 sales.
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