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.
According to Relocation, Barcelona authorities intend to significantly increase the tax burden on vacation rental owners. On October 15, 2026, the city council tentatively approved the introduction of additional surcharges on the property tax (IBI) ranging from 50% to 150%, depending on the number of short-term rental licenses held by the owner.
The new measure will affect approximately 10,600 vacation rentals and will mark the next phase of the city government’s policy to reduce short-term rentals. Final approval of the tax changes is scheduled for December 2026. If the decision is adopted, the new rules will take effect on January 1, 2027, and the first additional tax will be assessed on December 31, 2027.
The amount of the surcharge will depend on the number of tourist licenses held by the owner. Owners of a single license will be required to pay 50% more than the current IBI tax. Owners of two or three licenses will face a 100% surcharge, while owners of four or more tourist properties will face a 150% surcharge.
Thus, if the standard annual tax on an apartment is 1,000 euros, after the new rules take effect, an owner with one tourist license will pay 1,500 euros, an owner with two or three licenses will pay 2,000 euros, and an owner with four or more licenses will pay 2,500 euros per year for the respective property.
According to city data, approximately 6,000 tourist apartments—or about 57% of the total—are owned by individuals with four or more licenses. Another 1,200 properties are owned by individuals with two or three licenses, and approximately 3,200 by those with a single license.
City officials expect to generate an additional 7–8 million euros annually through this increased taxation.
Jordi Valls, Barcelona’s deputy mayor for economic affairs, explained the need for the changes by noting that vacation rentals are effectively used for commercial purposes, so their taxation should not be subject to the same conditions as regular residential housing.
The new tax policy is being implemented against the backdrop of a previously adopted decision to gradually phase out short-term apartment rentals in Barcelona. The municipality intends not to renew existing tourist accommodation licenses after they expire in November 2028.
For real estate investors in Barcelona, the new rules mean a reduction in the potential profitability of tourist rentals. The additional costs will particularly affect professional operators who manage multiple apartments. At the same time, the prospect of tourist licenses expiring in 2028 creates additional risks for long-term investment plans.
Owners will have to consider alternative models for using their properties, including long-term rentals, medium-term leases—provided they meet the established requirements—or the sale of the properties.
At the same time, industry representatives are opposing the new restrictions. Apartur, the Barcelona Tourist Apartments Association, has called the tax increase disproportionate and said it creates legal uncertainty for businesses. The organization has stated its readiness to challenge the new rules in court once they are finally adopted.
Barcelona remains one of the largest tourist destinations in Spain and Europe. The massive growth of short-term rentals in recent years has become a source of controversy among property owners, representatives of the tourism industry, and local residents.
Spain continues to strengthen its positive image among Ukrainians: in August 2026, 65.2% of respondents expressed a positive attitude toward the country, while only 1.6% expressed a negative one. Compared to the previous survey, the share of positive assessments has increased, while negative attitudes remain at a minimal level, according to the Experts Club Information and Analytical Center.
According to the results of the August survey, 23.9% of Ukrainians have a completely positive attitude toward Spain, and 41.3% have a mostly positive attitude. A neutral stance is held by 31.3% of respondents. 1.4% view the country mostly negatively, only 0.2% view it entirely negatively, and another 2% were undecided.
The balance of positive and negative assessments stands at plus 63.6 percentage points. Thus, positive attitudes toward Spain outweigh negative ones by more than 40 times, and over 96% of respondents view the country positively or neutrally.
Compared to March 2026, attitudes toward Spain have improved. In the previous survey, 18.9% of respondents described their attitude as entirely positive, and 44.8% as mostly positive. The overall positive rating stood at 63.6%, the negative rating at 0.9%, and 33.6% of respondents held a neutral position.
Over the course of five months, the share of positive assessments increased by approximately 1.6 percentage points—to 65.2%. At the same time, there were changes within the positive group: the share of “entirely positive” responses rose by 5 percentage points—from 18.9% to 23.9%—while the share of “mostly positive” responses declined slightly. The share of neutral assessments decreased from 33.6% to 31.3%.
This continues the positive trend observed in previous waves of the survey: in August 2025, the balance of positive and negative attitudes toward Spain stood at approximately plus 52 percentage points; in March 2026, it was approximately plus 62.7 percentage points; and in August, it was plus 63.6 percentage points.
Spain remains not only one of the most positively perceived European countries but also one of Ukraine’s most advantageous trading partners. Recently, Spain has been among the leaders in terms of a trade surplus for Ukraine—that is, Ukrainian exports to this country significantly exceed imports. This makes the Spanish market particularly important in terms of foreign exchange earnings, export diversification, and the presence of Ukrainian businesses in the EU market.
Maksym Urakin, founder of the information and analytical center Experts Club, notes that in this case, the country’s positive public image is combined with real economic benefits for Ukraine.
“Spain is not only a country with a consistently positive image among Ukrainians but also one of Ukraine’s most advantageous economic partners. Recently, it has demonstrated a very strong position in bilateral trade and stands out as one of the leaders in terms of a trade surplus favorable to Ukraine. The combination of economic benefits, political support, humanitarian openness, and a positive public attitude forms a very solid foundation for the further development of Ukrainian-Spanish relations,” Urakin noted.
Oleksandr Pozniy, director of the research company Active Group, attributed the positive perception of Spain to a combination of political, humanitarian, and social factors.
“Spain actively supports Ukraine on the international stage, provides humanitarian aid, and creates favorable conditions for Ukrainian displaced persons. At the same time, cultural openness and traditional ties between our peoples reinforce this positive image. Therefore, there is virtually no mistrust or criticism of Spain within Ukrainian society,” Pozniy noted.
The latest wave of the survey generally confirms this trend. The increase in the share of entirely positive assessments, coupled with an extremely low level of negative sentiment, indicates that Spain continues to enjoy a consistently positive image among the Ukrainian public.
The survey was conducted in August 2026 using self-administered online questionnaires in the SunFlowerSociology panel among 800 Ukrainian citizens aged 18 and older. In the previous wave conducted in March, 800 respondents were also surveyed, and the sample was representative by age, gender, and region.
ACTIVE GROUP, EXPERTS CLUB, international relations, Pozniy, PUBLIC OPINION, SOCIOLOGY, SPAIN, TRADE, UKRAINE, URAKIN
According to Experts Club, Italy and Spain have the highest levels of positive attitudes among Ukrainians among the Southern European countries included in the study—70.1% and 65.2%, respectively. At the same time, a significant portion of respondents hold a neutral stance toward Greece and Slovenia, while attitudes toward Serbia remain the most mixed. This is evidenced by the results of the third wave of the study “Ukrainians’ Attitudes Toward Countries Around the World,” conducted by Active Group in collaboration with Experts Club, reports the Experts Club Information and Analytical Center.
Italy has the best result in the regional group: 70.1% of respondents view it positively, 25% neutrally, 2.9% negatively, and another 2% were undecided. The balance of positive and negative assessments stands at 67.2 percentage points. In March 2026, it was slightly higher—69.7 percentage points—but compared to August 2025, when the figure stood at 55 percentage points, attitudes remain significantly more favorable.
Spain is viewed positively by 65.2% of respondents, neutrally by 31.3%, and negatively by only 1.6%. The balance stands at 63.6 percentage points, compared to 62.7 percentage points in March and 52 percentage points in August of last year. Thus, among the Southern European countries surveyed, Spain is the one showing consistent growth in the balance compared to previous waves.
49.7% of Ukrainians view Greece positively, 44.2% neutrally, and 3.9% negatively. The balance of positive and negative assessments stands at 45.8 percentage points, compared to 50.1 percentage points in March 2026 and 44.7 percentage points in August 2025. This indicates a relatively stable perception of the country, with positive and neutral assessments predominating.
Regarding Slovenia, 40.3% of respondents expressed a positive attitude, while nearly half—49.9%—took a neutral stance. 6.7% view the country negatively, and the balance stands at 33.6 percentage points, the same as in March 2026.
The most contrasting results in the group were recorded for Serbia. 22.7% of Ukrainians view it positively, 20.4% negatively, and the majority, 53.4%, hold a neutral position. The balance stands at plus 2.3 percentage points. At the same time, the trend has improved compared to August 2025, when the indicator was negative—minus 12.3 percentage points.
Maksym Urakin, founder of Experts Club, deputy director of the Interfax-Ukraine news agency, and candidate of economic sciences, emphasized the need for foreign partners to communicate more actively with Ukrainian society.
“The first recommendation is to regularly showcase concrete achievements and specific actions. The second is to be open to questions and inquiries from the media and the public,” Urakin noted.
According to him, sociological data can help diplomatic missions and businesses assess public perception and build bilateral relations more effectively.
Oleksandr Pozniy, director of the research firm Active Group, highlighted the need to combine public awareness with the development of practical economic cooperation.
“We need to do more than just raise general awareness. First and foremost, business associations, the Ministry of Economy, and the Ministry of Foreign Affairs need to take action,” Pozniy noted.
According to him, the most promising areas are those where Ukraine can deepen bilateral ties and increase exports.
In a broader context, the study shows that Ukrainians’ attitudes toward most Southern European countries remain positive or neutral. Italy and Spain score particularly high, while public opinions regarding Serbia are significantly more polarized, although the balance has improved over the past year.
The survey was conducted in August 2026 using self-administered online questionnaires in the SunFlowerSociology panel among 800 Ukrainian citizens aged 18 and older. The sample is representative by age, gender, and region, and the stated maximum theoretical margin of error for indicators at the 50% confidence level is ±3.5 percentage points. This is the third wave of the study, following surveys conducted in August 2025 and March 2026.
ACTIVE GROUP, EXPERTS CLUB, GREECE, ITALY, SERBIA, SLOVENIA, SOCIOLOGY, SOUTHERN EUROPE, SPAIN, UKRAINE
Spanish Prime Minister Pedro Sánchez announced the dissolution of parliament and the holding of early parliamentary elections on November 29, 2026, after a fragmented parliament blocked a number of key government initiatives, including measures to combat the housing crisis.
On October 5, Sánchez announced the convening of an extraordinary cabinet meeting to initiate the procedure for dissolving parliament. The early election will take place nearly a year ahead of schedule.
The decision was made following yet another escalation of the housing crisis in Spain. Last week, parliament rejected the government’s proposed housing measures, and on October 3, tens of thousands of people took to the streets in protests across approximately 50 cities nationwide.
In Madrid alone, according to Reuters, about 70,000 people took part in the demonstrations. Protesters demanded tougher measures against rising rents, evictions, and the shortage of affordable housing. Protests also took place in Valencia and other major cities.
The housing crisis in Spain has worsened in recent years amid rapidly rising prices, insufficient supply of new housing, and high rental costs in major cities and tourist regions.
According to the latest Eurostat data, published on October 1, 2026, residential real estate prices in Spain rose by 12.1% in the second quarter compared to the second quarter of 2025. By comparison, housing prices across the European Union rose by an average of 4.7% during this period, and by 4% in the eurozone. Thus, the rate of price growth in Spain is more than double the European average.
Moreover, prices continue to rise on a quarterly basis: in the second quarter, prices in Spain rose by another 3.4% compared to the first quarter of 2026. In the first quarter, the annual growth rate was 12.8%.
High growth rates are also being seen in the resale market. According to indices published in early October by Spain’s largest real estate portals, the average price of resale housing continued to grow at double-digit rates in the third quarter. According to Idealista, prices rose by 11.8% year-over-year—to 2,930 euros per square meter—while Fotocasa estimates annual growth at 13.8% and the average price at approximately 3,140 euros per square meter.
At the same time, the situation is complicated by lending conditions. The Bank of Spain reported in July that in the second quarter of 2026, banks tightened lending conditions, and public demand for mortgage loans declined. Banks also expected lending conditions to tighten further in the third quarter.
Consequently, the housing issue has evolved from a primarily social and economic problem into one of the central factors on the Spanish political agenda. The rapid rise in real estate prices, the shortage of affordable housing, the situation in the rental market, and mass protests increased pressure on the government at a time when Sánchez’s cabinet was already struggling to pass bills in parliament.
Early parliamentary elections in Spain are scheduled for November 29, 2026.
