Foreign home purchases in Spain grew 11% in the second quarter of 2026: more than 26,800 transactions, or 15.98% of the entire market. The striking part is not just the rise but the contrast: over the same quarter, total sales fell 2.3% and purchases signed by Spaniards dropped 4%. International money was the only segment that grew — and in Malaga it grew at twice the national rate.
How many homes do foreigners buy in Spain?
Second-quarter 2026 figures from the Spanish Property Registrars' Association (Colegio de Registradores), analysed by the developer Sonneil, describe two markets moving in opposite directions. Domestic buyers have slowed, squeezed by prices and financing costs. Foreign buyers have not. When comparing them with other sources, bear in mind that registrars count each sale when it is registered, weeks after it is signed before a notary, so their figures do not match the notaries' statistics for the same quarter.
| Sales, Q2 2026 | Transactions | Annual change |
|---|---|---|
| Spain total | 167,934 | −2.3% |
| Spanish buyers | 141,100 | −4% |
| Foreign buyers | 26,800 | +11% |
The upshot is that the international buyer's share of the market has moved from 14.10% to 15.98% in just twelve months. Gaining almost two percentage points in a year is a significant shift in a market this size, and it is not the result of one big deal: it reflects thousands of individual decisions pointing the same way.
One nuance is worth grasping, because it changes the reading. According to Sonneil, the growth is not driven mainly by the nationalities that traditionally buy second homes, which rose 3.3% as a group, but by foreigners who already live and work in Spain and mostly buy a first home. That is where the big jumps are: Romania up 24%, Morocco up 20% and South American buyers as a group up 42%. The land registry does not distinguish between first and second homes, so the split is by nationality rather than by how each property is actually used, but it reflects two distinct markets that often get reported as one.
How many homes do foreigners buy in Málaga?
Málaga registered 3,474 international purchases in the quarter, 20.79% more than a year earlier, and foreign buyers now account for 37.01% of all transactions in the province — 3.72 points more than in 2025. Only Alicante has a higher foreign share in Spain. Put another way: in the province of Málaga, more than one in three homes that change hands today is bought by someone from outside Spain.
| Province | International transactions | Share of all sales | Annual change |
|---|---|---|---|
| Alicante | 5,710 | 46.43% | +3.13 points |
| Malaga | 3,474 | 37.01% | +3.72 points |
| Spain average | 26,800 | 15.98% | +1.88 points |
That 37% is a provincial average, and it should not be confused with what happens municipality by municipality. In Marbella, Estepona or Benahavís the proportion of foreign buyers is far higher; in inland residential areas of the province it is considerably lower. The provincial figure blends both realities.
Which nationalities buy the most homes in Spain?
The ranking by nationality is still led by the United Kingdom, but only just, and with almost flat growth. Among the nationalities Sonneil associates with second homes, which are the ones shown in the table, the Netherlands was the quarter's most dynamic market and is now breathing down British buyers' necks.
| Country | Transactions | Annual change | Share |
|---|---|---|---|
| United Kingdom | 1,843 | +0.7% | 6.99% |
| Netherlands | 1,830 | +20.2% | 6.94% |
| Germany | 1,612 | +3.8% | — |
| France | — | +7.9% | — |
| Poland | — | +7.8% | — |
| Belgium | — | −17.6% | — |
| Russia | — | −5.4% | — |
| Sweden | — | −2.9% | — |
The Dutch surge and the 17.6% Belgian decline are the most interesting part of the table, because two neighbouring countries with similar climates, incomes and holiday habits are moving in opposite directions. The practical lesson for sellers is that international demand is not a single bloc: it is a set of national markets rising and falling at different speeds, and a sales strategy that speaks only English is walking away from part of today's fastest-growing buyer.
Why are foreign buyers holding up better than domestic ones?
Andrés Pedrera, chief executive of Sonneil, sums it up by saying the international buyer's weight "is now structural in Spain's major destinations". The key word is structural: not a spike, but a permanent feature of the market.
There are fairly concrete reasons behind that resilience, and they are worth understanding because they explain what may happen over the coming quarters:
- Less dependence on a mortgage. A significant share of second-home buyers pay cash or finance the purchase in their home country, so Spanish interest rates affect them less than they do local buyers.
- A different benchmark. Someone arriving from Amsterdam, Munich or London compares Costa del Sol prices with those in their own city, not with Málaga five years ago. Their sense of what counts as expensive is entirely different.
- The decision is not purely financial. Climate, flight connections, healthcare and quality of life weigh as much as yield, and none of those change with the economic cycle.
- Remote work and split residency. More and more buyers now spend half the year here, turning what used to be a holiday indulgence into a primary-home purchase.
What this means if you are buying or selling on the Costa del Sol
If you are selling, the relevant fact is that your most likely buyer in the province of Málaga is not Spanish. That has practical consequences: listings and photography built for remote decision-making, paperwork ready for a buyer who cannot drop by the notary whenever they please, and visibility in the languages of the markets that are actually growing, not just English.
If you are buying, the message is different and less comfortable: you are not competing on price with the local market but with international demand that keeps growing while domestic demand cools. In prime areas that means less negotiating room than headlines about a cooling market suggest. Here are the median asking prices in three of the municipalities where those buyers concentrate, according to our August 2026 Costa del Sol market report, built from 8,808 active listings:
| Municipality | Median price | Median €/m² |
|---|---|---|
| Benahavís | €1,200,000 | 5,418 |
| Marbella | €950,000 | 5,939 |
| Estepona | €649,000 | 4,671 |
Note a detail that is often missed: Benahavís has the highest median price and, at the same time, a lower price per square metre than Marbella. That is not a contradiction but a difference in product — large villas with plots versus central apartments. Comparing municipalities on median price alone leads to the wrong conclusions; always read both columns.
Conclusion
The second quarter of 2026 leaves a clear picture: the Spanish market is adjusting slightly while international buyers hold up the Costa del Sol. With 37% of Málaga's transactions in foreign hands and that share rising by almost four points a year, the question is no longer whether international buyers will keep coming, but how each transaction is prepared for them. If you are considering selling your home or buying on the Costa del Sol, at EVS PROPERTY GROUP we work with this demand every day and can tell you, with data from your specific area, which buyer you are facing and at what price deals are closing.
Frequently asked questions
Can foreigners buy property in Spain without being residents?
Yes. There is no restriction by nationality and no requirement to live in Spain. You need a NIE number, a Spanish bank account and proof of the source of your funds. The only exception is land classified as being of national defence interest, which requires prior military authorisation.
What percentage of homes in Málaga are bought by foreigners?
37.01% of all transactions in the province of Málaga in the second quarter of 2026, up from 33.29% a year earlier. It is Spain's second province by share of foreign buyers, behind only Alicante.
Which foreign nationality buys the most homes in Spain?
The United Kingdom is still first by volume, with 1,843 transactions and a 6.99% share, but is practically tied with the Netherlands (1,830 transactions, 6.94%), which is growing 20.2% a year against Britain's 0.7%. At the current pace, the lead could change hands.
If total sales are falling, is it a good time to sell on the Costa del Sol?
The 2.3% decline is a national figure that mainly reflects Spanish buyers. In the province of Málaga, transactions involving foreigners rose 20.79% over the same period, so the segment that matters most on the coast is growing, not shrinking. What decides the outcome is the specific area and property type, not the national average.
How much does it cost to buy a home in Marbella in 2026?
The median asking price in Marbella is €950,000, with a median of €5,939/m², according to our August 2026 market report. The range is very wide: an apartment in central Marbella and a villa on the Golden Mile belong to different markets, so the median is a reference point, not a valuation.
What next? The most useful thing after reading is to look at the real market: browse properties by city or tell us on WhatsApp what you are looking for — area, budget, timing — and we will prepare a tailored selection, with no obligation.
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