The Land Registry Association has recently published his yearly report for 2022 that gives, among others, extended information on the nationalities of foreign buyers in Spain, more in detail for each of the regions of Spain and some provinces of Spain. There are some interesting data that will be commented in this article.
Checking Chart 1 that shows the number of sales to foreigners in the province of Malaga, it can be seen not only that 2022 was the year with more sales to foreigners in Malaga, which is understandable as 2022 was an historic record year in home sales in most of the municipalities of the province, but also that the percentage of sale to foreigners increased from 27% to 33% which is a remarkable +6% to recover the percentages achieved from 2013 to 2016 and after 5 years of declines.
This shows that one third of the properties closed in the Costa del Sol are sold to foreigners confirming the increasing interest in the area that clients from abroad are manifesting.
On the other hand and in Chart 2, it can be seen the nationalities of the foreigners buying in Andalucia. Although the data is for the whole Andalusian community, most of the sales to foreigners in the region are closed in the Costa del Sol so we will consider this data relevant for our area. The chart shows that British are still the nationality that closes more real estate transactions but with a extremely relevant change in the tendency. For the first year after the Brexit, the number of British buying have increased a remarkable almost 27% in the percentage of sales. We hope for the stabilization of this change as British have been always the main buyers in Marbella and, specially, Benahavis.
In terms of number of sales, the nationalities with more closed sales are British, as commented, Swedish and Dutch that took the place from Belgiums which is a change compared to the previous ten years where this latest has been the third in the ranking. In general, most of the nationalities have increased their percentages being Dutch and Germans the ones with the highest increase in percentage.
In summary, the numbers are showing what we have noticed in the last two years that is more foreigners deciding to enjoy the life style that the Costa del Sol offers.
Source: The Land Registry Association