by Tripinvest UK
Spain’s Housing Sales: Q2 2023 Overview
The Spanish housing market in 2023, as detailed by sources like idealista.com, has always been a focal point for both local and international investors. The data for the second quarter of 2023 offers intriguing insights into the current state of the market. Let’s explore the numbers and trends.
1. Overview of Housing Sales in 2023
Housing sales data for the second quarter of 2023 showed a 5.6% year-on-year drop. 2022 was a landmark year for the Spanish housing market, with transaction figures reminiscent of the real estate boom. Even with the recent decline, the numbers remain substantial, with projections suggesting that we could surpass half a million operations by the end of 2023.
2. The Influence of Foreign Buyers
Foreign buyers have consistently shown a keen interest in the Spanish housing market. In Q2 2023, they represented 14.94% of all transactions, amounting to over 22,700 sales. This figure is the second-highest in the historical series recorded since 2013, only surpassed by the 15.92% in Q3 2022.
3. Nationality Breakdown of Buyers
The British have traditionally been the dominant nationality buying houses in Spain. However, Q2 2023 saw their relative weight decrease to 8.8%. Other nationalities making significant purchases include:
- Germans: 7.25%
- French: 6.56%
- Moroccans: 5.37%
- Italians: 5.22%
- Romanians: 5.15%
- Belgians: 5.09%
- Dutch: 4.61%
4. Preferred Locations for Foreign Buyers
Foreign buyers have specific preferences when it comes to locations. The Mediterranean arc and the islands remain top choices, with Alicante leading, followed by Santa Cruz de Tenerife, Malaga, and the Balearic Islands. Other notable locations include Girona, Murcia, Las Palmas, and Almeria.
Conclusion
In the context of the Spanish housing market 2023, we see that it continues to be a dominant force in the global real estate landscape. The sustained interest from foreign buyers is noteworthy, and tracking the progression of these trends throughout the year will be intriguing.
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