In the first half of 2026, foreign citizens purchased 62,327 residential properties in Spain, which is 13% less than during the same period last year. At the same time, the average price of homes purchased by foreigners rose by 9.4% to a record €2,644 per square meter, according to data from the General Council of Notaries of Spain (Consejo General del Notariado) released on October 15.
According to the Notarial Statistical Information Center (CIEN), this marks the largest annual decline in the number of transactions involving foreign buyers since the first half of 2020. The share of foreigners in the total number of residential property transactions fell to 18.3%, compared to 19.2% a year earlier and 20.3% in 2024.
The most notable decline was seen among buyers who do not have Spanish resident status. They purchased 22,940 properties, 18% fewer than a year earlier. This category accounted for 36.8% of all transactions by foreign buyers.
Foreigners residing in Spain purchased 39,387 properties, or 63.2% of the total number of purchases by foreign citizens. Compared to the first half of 2025, their activity declined by 10%.
Despite the decline in the number of transactions, housing prices continued to rise. Non-residents paid an average of €3,493 per square meter, which is 11.8% more than a year earlier. For foreign residents, the average price was €2,102 per square meter (+9.8%), while Spanish citizens purchased homes for an average of €1,971 per square meter (+8.7%).
Moroccan citizens were the largest group of foreign homebuyers in the first half of the year, accounting for 4,960 transactions, or 8% of the total number of foreign purchases. For the first time, they surpassed British citizens in this category, who accounted for 4,541 transactions (7.3%).
Italy took third place with 4,109 transactions (6.6%), Romania fourth with 3,974 transactions (6.4%), and Germany fifth with 3,907 transactions (6.3%).
The highest average price of purchased real estate was recorded among U.S. citizens—€3,948 per square meter. They were followed by buyers from Sweden (€3,839), Germany (€3,763), Switzerland (€3,760), and Norway (€3,588).
Ukrainians also remain a significant group of foreign buyers of Spanish residential real estate. Although the notary office’s brief report for the first half of 2026 does not provide specific absolute figures for Ukrainian citizens, the relevant information is contained in the official statistics of the Spanish College of Registrars.
According to the registrars’ data, in the first quarter of 2026, Ukrainians accounted for 3.08% of all registered residential property purchases by foreigners, ranking tenth among nationalities. This corresponds to approximately 764 transactions.
In the second quarter, the share of Ukrainians was 2.94%, and their ranking dropped to eleventh. Based on the total number of registered transactions by foreigners, Ukrainian citizens accounted for approximately 789 purchases.
Thus, according to the results of the first half of 2026, Ukrainians may have purchased about 1,550 residential properties in Spain, based on the methodology of the Board of Registrars.
However, the statistics from registrars and notaries are not identical. According to registrars, foreigners purchased approximately 51,600 properties during the first half of the year, while notaries recorded 62,300 transactions. This discrepancy stems from differences in the stages of transaction registration and statistical reporting methods. Therefore, the estimated number of purchases by Ukrainians cannot be directly correlated with the total number of transactions according to notary data.
At the same time, notary statistics show that the largest annual decline in purchases by specific nationalities was recorded among citizens of Russia (-26.2%), China (-26.1%), the United States (-22%), Bulgaria (-21.6%), Belgium (-21.3%), and the United Kingdom (-21%).
Among the main groups of foreign buyers, only citizens of Venezuela (+10.2%) and Colombia (+7.4%) showed an increase in the number of properties purchased.
Geographically, foreign buyers remain most active in tourist and coastal regions. Specifically, in the Valencian Community, non-residents purchased 9,250 properties, accounting for 40.3% of all purchases in this category in Spain. Another 5,800 transactions took place in Andalusia, and 2,046 in the Canary Islands.
Among foreign residents, the highest number of transactions was recorded in Catalonia—8,516—the Valencian Community—8,196—and Andalusia—6,007.
The number of home purchases by foreigners declined in nearly all of the country’s autonomous communities. The exceptions were Castile-La Mancha (+4.4%) and Extremadura (+3.3%).
The sharpest declines were recorded in Cantabria (-20.5%), the Canary Islands (-20.3%), and the Autonomous Community of Madrid (-19.7%). In the Balearic Islands and Valencia, the number of transactions fell by 15.4%.
At the same time, prices for foreign buyers rose in 15 of the 17 autonomous communities. The most significant price increases occurred in Cantabria (+23%), Asturias (+22.3%), Extremadura (+16.4%), Valencia (+15.6%), and Madrid (+15.4%).
Current statistics indicate a shift in the Spanish market: after several years of high activity, the number of purchases by foreigners has begun to decline, while the value of purchased real estate continues to reach new highs.
For international investors and foreigners planning to move to Spain, this means rising costs for purchasing a home even as demand weakens. At the same time, regional differences remain significant, and the market for coastal resorts continues to differ substantially from that of the country’s inland regions.
The Consejo General del Notariado is the national representative body of the Spanish notarial profession. Its statistical center, CIEN, analyzes data on notarized transactions. The Colegio de Registradores maintains separate statistics on registered real estate rights, including data broken down by the buyers’ citizenship.
