Spain real estate: Foreign buyers drive market trends and price gaps

Recent real estate data in Spain highlights significant trends in foreign property acquisitions and pricing disparities. Moroccan residents have become a primary group of foreign buyers, accounting for 12.1% of transactions among resident foreigners. Notably, Moroccan residents purchase property at a much lower average price—approximately 768 euros per square meter—which is 61% lower than the average for all resident foreigners and 76% lower than non-resident foreigners.

In the Canary Islands, international interest remains high despite a general cooling of the Spanish housing market. Foreigners accounted for 29.33% of all home sales in the archipelago during the second quarter of 2025, with Santa Cruz de Tenerife seeing a 32.25% share of international purchases. While the broader Spanish market experienced a 5.7% quarterly decline in total operations, international buyer interest reached a historic high of 15.98% nationwide.

Price variations among nationalities are stark. While Swedish, German, and American buyers report the highest average prices per square meter, Moroccan buyers are concentrated in more affordable interior provinces and border areas. In the Canary Islands, the average price remains among the highest in Spain at 3,052 euros per square meter.