Foreign demand
Who Bought Where In The Second Half Of 2025?
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When it comes to foreign buyers of second-homes in Spain, the Dutch are now important players on the Mediterranean coast, the Germans still rule the islands, the Brits are hanging on, and Americans have spread out across Spain.
The Association of Spanish Notaries has recently published its latest report on foreign demand for property in Spain, including maps showing the top two foreign nationalities buying homes in each region, split between non-residents (typically second-home buyers) and foreign residents / expats living in Spain at the time of purchase (maps above).
The maps reveal how the geography of foreign demand keeps evolving — and in H2 2025 one trend stands out in particular: the rise of American buyers, who are now in the top two nationalities in six regions when it comes to non-resident buyers, putting them level with the French and well ahead of the British, who now only make the podium in four regions.
That’s quite a turnaround. A few years ago American buyers barely registered in the rankings outside a handful of luxury hotspots. Now they are becoming a meaningful force in Spain’s foreign second-home market, especially in higher-end destinations and lifestyle markets.
The Dutch, meanwhile, have quietly become one of the dominant nationalities in Spain’s non-resident market. According to the report, they account for 16pc of the foreign market in the Valencian Region, almost 16pc in Murcia, and nearly 14pc in Andalusia.
The Germans continue to dominate the islands, especially the Balearics where they make up more than half of all foreign non-resident purchases. They are also particularly important in the Canaries, Cantabria, Galicia, and Asturias.
The British, by contrast, continue their long slow retreat from the dominance they once enjoyed before Brexit. They remain highly relevant in Murcia and Andalusia, and still have a strong presence in the Valencian Region and the Balearics, but they no longer dominate Spain’s foreign market in the way they once did.
Just over a decade ago in H1 2016, British buyers were one of the top two foreign nationalities in fifteen of Spain’s seventeen regions. Today they are increasingly concentrated in a handful of traditional coastal strongholds.
