Foreigners made a record 16% of housing transactions in Spain, but overall sales fall for the third consecutive quarter

Record share of foreign buyers amid record-high prices

Foreign buyers have taken the largest share of Spain's housing market ever recorded: in the third quarter of 2026 they accounted for 16.05% of all purchase and sale transactions, or more than 26,300 deals. This is according to data from the College of Registrars, which is cited by Euronews (https://www.euronews.com/2026/11/06/foreign-buyers-push-spanish-home-sales-to-record-16-amid-record-prices). More than half of foreign purchases — 54.7% — were made by EU citizens, while another 17.8% were made by buyers from the rest of Europe. By nationality, the British lead with 7.5% of all foreign purchases, followed by citizens of Morocco (6.4%) and the Netherlands (5.8%).

Where foreign demand is concentrated

International demand is concentrated in the island and Mediterranean markets: in the Balearic Islands foreigners accounted for 37.2% of all transactions, and in the Valencian Community for 30.4%. In the remaining autonomous communities the share of foreigners did not exceed 30%. This means that in certain regions nearly every third or fourth home goes to non-residents, whereas nationally their presence is noticeably lower — a gap that explains why the debate over the role of foreign demand in Spain's housing crisis is conducted primarily with regard to the coast and the islands.

Prices hit an all-time high

The College of Registrars' repeat-sales house price index rose 15.8% year on year and 5.2% quarter on quarter in the third quarter, reaching a new all-time high. The average price reached €2,512 per square metre: resale housing — €2,462/m² (+0.6% over the quarter), new housing — €2,701/m² (+2.5%). Under another methodology, which reflects average prices, the increase was noticeably more modest: 1% over the quarter and 9.3% year on year, which, according to the registrars, indicates a slowdown in the pace of growth. The highest average prices among the autonomous communities are in Madrid (€4,565/m²) and the Balearic Islands (€4,502/m²), followed by the Basque Country (3,693), Catalonia (2,989) and the Canary Islands (2,850). Among provincial capitals, San Sebastián leads (€6,662/m²), followed by Madrid (5,597), Barcelona (5,124), Palma (4,408) and Bilbao (3,877).

A paradox: prices rise while sales fall

Against the backdrop of record prices, market activity is cooling. From July to September, 164,148 transactions were registered — 5.9% fewer year on year and 2.3% fewer than the previous quarter; this is the lowest figure in nine quarters and the third consecutive quarterly decline. New housing accounted for 34,611 transactions (−0.9%), resale housing — 129,537 (−2.6%); the decline affected ten autonomous communities and 27 provinces. Mortgage lending followed the same path: 124,145 mortgages over the quarter (−3.9%), equivalent to 75.6% of all transactions. At the same time, 519,388 mortgages were taken out over the last twelve months — 6% more than in the previous annual period, meaning that on a yearly basis lending is still growing. The most mortgages in the quarter were taken out in Andalusia (23,635) and Catalonia (23,268), while by loan amount per square metre Madrid leads (€3,158/m²) along with the Balearic Islands (€2,987/m²).

What these data show

The statistics depict a market in a state of evident contradiction, a point also made by Euronews itself: prices are breaking records and the share of foreign demand has reached its peak, but the total number of transactions has been declining for three quarters in a row. In other words, price growth is currently driven not by an expansion in sales volume, but by a combination of record foreign demand and shrinking supply on the market. For buyers — both local and foreign — this means entering the market at historically high prices and with a narrowing choice of properties; for Spanish regions with a high share of foreigners, above all the Balearic Islands and the Valencian Community, the record dependence on non-residents heightens the sensitivity of the local market to changes in external demand. Editorial note: the data refer to the third quarter of 2026 and are based on statistics from the College of Registrars as reported by Euronews; the registrars' primary tables are not provided in the sources.