The British Love for Spanish Homes Continues Despite Brexit
Despite the political turmoil of Brexit, it seems the allure of Spanish homes hasn’t waned for the British. In the realm of foreign house purchases in Spain, Brits are still in the lead. But what does the bigger picture look like, and how do other nationalities compare in this Mediterranean real estate dance?
Who’s Buying in Spain? A Snapshot
– Brits top the list, making up 9.6% of house purchases by foreigners.
– Germans come in second at 8.1%.
– Moroccans are a close third with 7.3%.
– The French trail slightly at 6.56%*
Foreign Nationals Living in Spain: A Population Perspective
When it comes to foreign nationals residing in Spain:
– Moroccans hold the top spot with a population of approximately 800,000 as of 2022.
– The British community, although fervent in property purchase, come in third in terms of population with around 316,000 individuals. Romania beats them to the second place, boasting 632,000 nationals.
The Financial Side: Mortgages and Property Values
A fascinating aspect of this is how different nationalities approach the financials of Spanish property ownership. Let’s delve into some specifics:
– Swedes are not only paying the highest amount per square metre but also lead in the highest value mortgages, with an average of €337,413.
– Americans are close on their heels, holding mortgages averaging €335,625.
– Germans follow with €322,455
– The Dutch and the British have similar averages with €226,340 and €232,597 respectively.
What’s intriguing here is the apparent disparity in the British numbers. Despite being the dominant buyers of property in Spain, they don’t top the mortgage value rankings. This could suggest that many of the British buyers are either affluent individuals or perhaps families who have sold their homes in the UK to move to Spain, possibly on a Non-Lucrative or another type of residence visa.
The British love affair with Spanish property remains strong, even in the face of political changes. However, they’re not alone in their admiration for Spanish real estate, with several other nationalities also making their mark in the Spanish property market. As global dynamics shift, it will be interesting to watch how these trends evolve.