THE MEDITERRANEAN, THE FAVOURITE AREA FOR BUYING PROPERTY

The Mediterranean, the favourite area

What has not changed in 2024 compared to previous years is the preference of foreigners to buy homes on the Mediterranean coast. The Spanish coast continues to attract a lot of interest, especially for second homes. 
The Valencian Community was the region with the highest number of transactions in the first half of the year and broke the record for foreign buyers, with 21,224 transactions, representing more than 30% of all purchases by foreigners in Spain. Since 2016, international buyers have participated in one out of every four transactions in the provinces of Castellón, Valencia and Alicante, consolidating this region as the preferred one for foreigners.
The next most prominent regions in the ranking were Andalusia (12,637 transactions) and Catalonia (10,465). According to idealista data, in locations within Roses (Girona), Calpe (Alicante) or Andratx (Balearic Islands), the relative foreign demand exceeds 65% of the total number of searches and interactions carried out from the real estate portal, where nationalities such as French, Dutch or German stand out. 

After the three Mediterranean autonomous regions, the ones with the most transactions involving foreigners are Madrid and the Canary Islands, with just over 5,000 units in each case. However, of the top five Autonomous Regions by volume of sales and purchases, only the Valencian Community set a record number of transactions. In the case of Madrid, this is the second best figure since 2016, while Catalonia had its third best record, according to the notarial statistics.
In addition to the Valencian Community, other communities reached maximum figures in foreign sales and purchases, including Murcia, with 3,840 operations; and Castilla y León, with more than 1,280. Galicia and the Basque Country also recorded significant numbers, exceeding 900 and 800 transactions, respectively. 
Despite the Valencian Community, Andalusia and Catalonia, other outstanding enclaves for international buyers are the Balearic Islands and Madrid, especially in the luxury segment.
Mallorca, for example, is one of the world's favourite destinations in the luxury market, especially for people from Germany, the United Kingdom, Scandinavia and the USA, who are very interested in second homes such as villas, flats with sea views and rustic estates.