Foreign nationals purchased a total of 93,000 homes out of 637,000 total transactions registered in 2024 in Spain.

According to the latest Annual Real Estate Registry Statistics released by the College of Registrars, this is a 6.4 percent growth compared to 2023. The numbers show just how attractive Spain’s property market still is for international buyers.

But where in Spain are the expatriates buying homes?

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Foreign investment focuses on coastal and tourist regions

The Balearic Islands led the rankings, with 32.6 percent of all home purchases in the region made by foreigners. Valencia (28.9 percent) and the Canary Islands (27.2 percent) complete the top three. Next in the ranks are Murcia (23.6 percent), Catalonia (16.3 percent), and Andalusia (14 percent).

On a provincial level, Alicante topped the list, with nearly 44 percent of its property sales involving foreign buyers. It is followed by Santa Cruz de Tenerife, the Balearic Islands, and Malaga, all above 30 percent.

Notably, 10.8 percent of all foreign purchases surpassed the €500,000 threshold. That’s the highest proportion ever recorded. More than half (52.6 percent) of these high-value transactions were made by non-EU nationals; that’s a rise from 51.4 percent in 2023 and 42.3 percent in 2022.

Housing prices in Spain reached an all-time high

At the same time, Spain’s housing market also set a new key point in 2024. The average home price reached €2,086 per square meter, a 6.3 percent increase year-on-year. New builds climbed 4.8 percent to €2,265/m², while second-hand homes rose 6.3 percent to an average of €2,039/m².

The price hike affected all housing types:

Detached homes: +3.0%
Terraced houses: +4.9%
Apartments: +6.6%

The most expensive provinces to buy property

The most expensive provinces in terms of residential properties were Guipúzcoa (€3,577/m²), the Balearic Islands (€3,575), Madrid (€3,527), and Barcelona (€2,923).

At the same time, the average price per property sold in Spain reached €198,407, also a record high, a result of both price per square meter increase and larger average home sizes. The highest property values, by communities, were recorded in the Balearic Islands (€380,166), Madrid (€339,805), Basque Country (€255,998), and Catalonia (€227,611).