The majority of foreign buyers in Spain opt for second homes, but some nationalities more than others.
If the data on purchases of Spanish homes by foreign buyers is analyzed, the figures are broken down between residents and non-residents and it is assumed that residents are buying main homes (which is what the majority do, although some will buy a second home ). or investment), and assuming that non-residents are buying holiday homes (which they are the majority, although some will buy with a view to future relocation), you get a reasonable idea of how each foreign market breaks down between the first and the second . home buyers.
So, which nationalities are more likely to invest in second homes/investments and how have preferences changed over time? The table above answers the question. Using data from notaries dating back to 2007, non-resident buyers from the main foreign property markets in Spain are analyzed (excluding markets such as Morocco, which are in a completely different segment).
In 2022, Swedes had the highest proportion of second home buyers: almost 90 percent of Swedish buyers were non-residents, followed by Danes at 83 percent and Belgians at 80 percent. At the other end of the scale were the French with 60% (meaning that 40% of French people who buy property in Spain are already residents) and the British with 61%. Germans and Dutch were at 72 percent, and both had increased significantly since 2020.
The interesting thing about the British (in this context) is that they have gone from the highest proportion of all nationalities in 2007 (77% at that time) to the second lowest last year, a hair ahead of the French. Because? My guess is that many British buyers back in 2007 were “investors” who were cajoled into flipping and other such follies, and disappeared from the market when the bubble burst between 2008 and 2010 (Swedish and Danish second home buyers remained constant during that period). ). British second home buyers recovered somewhat between 2013 and 2016 (the time of the Brexit referendum) and have been declining since, despite a small rebound in 2022.