Foreigners accounted for 33.7 per cent of the total number of property sales in the Canary Islands during the third quarter of 2022, as reported by Europress citing information from pisos.com and the latest report from the Spanish Association of Property Registers.
This puts the Autonomous Community of the Canary Islands as the Spanish region where foreigners hold the most important position, ahead of another particularly valued coastal area such as the Balearic Islands, where foreign buyers accounted for 31.5 per cent.
Other favourite regions for foreign buyers are the Valencian Community (28.3 per cent), the Region of Murcia (23.4 per cent) and Andalusia (17.8 per cent).
In the country as a whole, foreign buyers accounted for 15.9% of the housing sales and purchases executed during the third quarter of 2022.
After two years of uncertainty in the real estate market due to the health crisis, this is the highest figure in the last ten years and evidence of the sector’s recovery.
Regarding the profile of the investor, the British population is the one that has bought more housing in Spain during the third quarter of 2022, 9.3% of the total, followed by the German, French and Romanian population.
As stated by Pisos.com, “privileged climate of the Spanish coast” and the price level, “which is still well below other European Union countries”, are the main attractions for foreign property transactions in Spain.