03 Nov The Most Sought-After Areas for Foreigners to Buy Luxury Properties in Spain

Although foreign investment in real estate is often concentrated in the most exclusive areas of major cities—such as certain neighbourhoods in Madrid or Barcelona—there are other parts of Spain where international demand for luxury properties is even more pronounced, and foreign buyers account for over 60% of transactions involving high-end homes, especially those valued at more than €1.5 million. According to a recent report on Spain’s residential market, several locations in the Balearic Islands, Alicante, Málaga, and Girona stand out for the exceptionally high level of international interest in this segment. At Barcelona Flat Hunter, we take a closer look at the most sought-after areas among foreigners looking to purchase luxury real estate in Spain.

The luxury property market in Spain has grown significantly in recent years. Currently, there are more than 45,000 listings for properties priced above one million euros, and over 20% of these are valued at more than three million. A recent analysis highlights the regions with the highest foreign demand and examines how this trend is shaping the Spanish real estate sector.

In Mallorca, Costa de los Pinos leads the rankings, with almost 70% of demand coming from international buyers. Other hotspots include Puerto de Andratx (68%) and Cala Murada (66.6%). Of the 30 locations in Spain where more than 60% of buyers are from abroad, 14 are in the Balearic Islands. On the mainland, notable examples include Oltamar-Cucarres in Calpe (66.3%), Elviria in Marbella (66.2%), and Santa Margarida in Roses (66%).

As for the nationalities of these buyers, Germans are at the forefront, especially in the Balearic Islands, Alicante, and Málaga. The Dutch have a strong presence on the Costa Blanca, particularly in Calpe and Moraira. The British, while only topping searches in Mijas Pueblo, are among the three most interested nationalities in more than half of the locations analyzed.

French, Norwegian, and Swedish buyers also feature prominently among those acquiring high-end homes along the Spanish coast. In addition, Swiss, Polish, Belgian, Austrian, and Finnish buyers are present in various destinations. There is also a notable increase in interest from American buyers, particularly in the Balearic Islands, Alicante, and Girona.

This analysis is based on data from various real estate sector sources, providing detailed insights into the evolution of the market in Spain, as well as in Italy and Portugal.