Foreigners continue to invest in Spanish real estate – latest data and trends for 2025
Spain has been attracting foreign investors and people dreaming of their own home in a sunny climate for years. The latest data for the second quarter of 2025 confirm that interest in real estate on the Iberian Peninsula remains strong, and Poles continue to hold a high position among foreign buyers.
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Record foreign demand – the latest figures
According to the latest data from the Spanish land registries, in the second quarter of 2025 there were as many as 24,122 property purchase transactions by foreigners, representing an 11% year-on-year increase. This is as much as 46% more than the average for the last decade! In the entire first half of 2025, the number of transactions involving foreign buyers reached 33,134 – 15% more than a year earlier and as much as 50% more than the ten-year average. This is the strongest start to a year in the history of these statistics.
In the ranking of nationalities investing in Spanish real estate, the British traditionally lead (1,874 properties in Q2), followed by the Germans (1,590) and the Dutch (1,558). Demand from the Netherlands is growing particularly dynamically – by as much as 40% year-on-year. Belgians also recorded a 20% increase. Most major nationalities increased their activity, except for Russians, where the number of purchases fell by 19%. Poles are also high in the ranking, although they are overtaken by Romanians (1.2 thousand) and Ukrainians (0.75 thousand).
At the same time, local demand also grew: in the second quarter, Spaniards bought 146,956 properties, an increase of 18% year-on-year. The share of foreigners in the market was 14.1%, close to the upper limit of recent years (from 9.95% to 14.94%). Such a high share of foreign buyers shows how attractive Spain is for investors from all over the world and how much influence they have on the local real estate market.
Poles among the leaders of foreign buyers
In the first half of 2025, Poles notarized the purchase of about 2,050 properties in Spain. This is as much as 14% more than in the same period of 2024, but also 14% less than in the very strong second half of last year. In the second quarter of 2025 alone, Poles bought over 1,060 apartments and houses, which means an increase of almost 7% year-on-year and over 7% compared to the previous quarter.
In the first half of 2025 the British remain the leaders (3.9 thousand), followed by the Germans (3.2 thousand), the Dutch (3 thousand), and the Romanians (2.4 thousand). Poles, with 2.05 thousand transactions, are also among the top buyers.
Property prices and preferred locations
The average price per square meter paid by EU buyers in the second quarter of 2025 was €2,668 (approx. PLN 11,400). Americans, although they bought fewer than 400 properties, paid an average of €4,300 per sqm. Nationwide, foreign buyers accounted for 14% of all transactions, but in tourist regions their share is much higher: as much as 30% in the Canary Islands, 28% in the Balearic Islands and Valencia, and in provinces such as Alicante, Santa Cruz de Tenerife, or Malaga – 43%, 36%, and 33% respectively. It is the islands and sunny coasts that are most often chosen by foreign investors.
It is worth noting that Romanians, who previously chose cheaper interior regions or the northern coast, are now making most purchases in provinces on the Mediterranean Sea. Poles are also increasingly choosing regions such as Costa del Sol, Costa Blanca, or the Balearic Islands, where one can count on stable property value growth and attractive living and leisure conditions.
New regulations on the short-term rental market
In response to the growing popularity of tourist rentals, the Spanish authorities introduced new regulations in April 2025. Property owners must now have tourist licenses, which require meeting a number of conditions, including the consent of 3/5 of the residents’ community for short-term rentals. In July, Spain became the first EU country to implement a national short-term rental register. The new system requires all owners offering short-term or seasonal rentals on digital platforms to obtain a unique registration code through the newly created “One-Stop Shop” register. Authorities are already enforcing these regulations, ordering platforms such as Airbnb and Booking.com to remove listings without a license number.
These changes aim to organize the short-term rental market and protect the interests of local communities, which increasingly complain about rising prices and limited housing availability for permanent residents. For investors, this means the need to carefully check local regulations before purchasing a property for tourist rental purposes.
Impact of changes on prices and the market
So far, there have been no significant changes in property prices after the introduction of the new regulations. According to Eurostat, property prices in Spain in the first quarter of 2025 increased by 12.3% year-on-year. Data from the Consejo General del Notariado indicate a 6.7% increase in house prices and a slight decrease in sales between April and May 2025 – by 2% nationwide and by 6.5% in Andalusia. Experts emphasize that the coming quarters will show whether this is only a temporary slowdown or the beginning of a new trend in the market.
It is worth noting, however, that despite rising prices, the Spanish real estate market remains attractive compared to other Western European countries. For many Poles, buying a house or apartment in Spain is not only an investment but also a way to improve quality of life, the possibility of remote work in a sunny climate, or securing their future for retirement.
Costa del Sol – luxury at an affordable price
Costa del Sol, especially Marbella, remains one of the most desirable places to invest. Apartments in this area cost from €400,000 to €1.5 million, and luxury villas average from €2 to €6 million. The average property price in Marbella is about €5,000 per sqm (PLN 21,000), making it competitive with Warsaw or Sopot. There are also more affordable properties available, with prices starting from €350,000.
Summary
Everything indicates that 2025 may be a record year in terms of the number of transactions involving foreign buyers. Spain remains a stable market, and its attractiveness is growing in the face of economic uncertainty in other European countries. The increase in the number of transactions, stable prices, and a wide range of both luxury and affordable properties make investments in this country consistently popular.
New regulations on short-term rentals may affect the market in the longer term, but for now, they do not discourage foreign buyers. Costa del Sol, Marbella, and other sunny regions of Spain continue to attract not only with their climate but also with attractive investment conditions. For Polish investors, this is a good time to consider purchasing property – both for their own needs and for long-term or short-term rental.
Before making a decision, however, it is worth carefully analyzing local regulations, consulting an advisor, and checking the real possibilities of obtaining a tourist license. It is also worth keeping up to date with market changes and new regulations that may affect the profitability of investments.
Data sources: Spanish Property Insight & Registradores.org
