The Spanish real estate market remains a magnet for foreign investors, and 2024 was no different. Despite globalisation and the challenges of the real estate sector worldwide, Spain remains a sought-after destination for those looking for a second home, a holiday home or a lucrative investment. With almost 94,000 properties bought by foreign buyers, the Spanish real estate market remains buoyant. Belgium plays a notable role in this, with thousands of Belgians finding their way to the Spanish housing market last year.
The Attractiveness of the Spanish Real Estate Market
Carl Vorsselmans, owner of Nieuwbouw in Spanje, highlights the growing foreign interest in Spain. “Spain remains a top destination for investors from all over the world,” he says, referring to the rising figures of foreign real estate transactions in 2024. Belgians are no exception: a total of 4,516 Belgians purchased a property in Spain, accounting for 4.9% of all foreign acquisitions. This places Belgium in eighth place in the ranking of foreign buyers.
Popular Regions for Foreign Buyers
Foreign buyers are mainly concentrated in the southern and eastern parts of Spain, with the Valencian Community leading the way. However, regions such as Andalusia, Catalonia, the Balearic Islands, and the Canary Islands also attract thousands of foreign investors each year. The Costa Blanca South is particularly popular, with over 22,700 property sales in the province of Alicante, making it one of the most favored regions. Gianni Seghers, manager of Costa Blanca South at Nieuwbouw in Spanje, explains why this region is so attractive: “The Costa Blanca South draws many buyers thanks to its pleasant climate and affordable real estate prices,” he says. This is also one of the reasons why the region attracts so many Belgian buyers.
Belgians: A Growing Role
Belgian interest in the Spanish real estate market continues to grow. With 4,516 purchases in 2024, Belgians account for 4.9% of all foreign real estate transactions in Spain. This makes Belgium the eighth-largest foreign buyer, following countries such as the United Kingdom and Germany, but ahead of countries like France, the Netherlands, and Italy. These figures emphasize Spain’s lasting appeal to Belgian buyers, whether for personal use or investment purposes.
Frederik Hoogewijs, advisor at Nieuwbouw in Spanje, notes that foreign buyers, particularly from the United Kingdom and Germany, play a crucial role in the Spanish real estate market. “Interest in Spanish real estate continues to grow,” he says. “What stands out is that, in addition to traditional buyers from the UK and Germany, we are seeing increasing interest from countries such as Morocco, the Netherlands, and Romania.”
Spain’s Strength as a Real Estate Destination
It is clear that Spain remains a dynamic and versatile real estate market, appealing not only to Belgian buyers but to investors from all over the world. The combination of attractive property prices, a pleasant climate, and a wide variety of regions makes Spain a popular choice for those looking to invest in real estate. The growing interest from countries such as Belgium, as well as the UK, Germany, and beyond, confirms the lasting strength of the Spanish real estate market.
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Source: Business AM, Bouwen&Wonen