The foreign buyer no longer fits only the luxury-villa stereotype: according to Keller Williams, international demand accounts for around 22% of the sales it analyses (18% the year before), and a growing share is looking for a home to live and work in Spain. For the Costa del Sol, where international buyers play a leading role, the takeaway is clear: you need to tell apart who is buying, why and on what budget.
What does the data say about foreign demand?
Keller Williams Spain and Andorra, headquartered in Marbella, puts foreign demand at around 22% of the sales in its analysis, up from 18% the previous year. In addition, enquiries, information requests and viewings from foreign buyers have grown by 10% to 12% over the first three quarters of 2026. One caveat: that rise measures interest, not completed sales.
Do resident or non-resident foreigners buy more?
According to Spain's General Council of Notaries, cited by Keller Williams, in the second half of 2025 resident foreigners made 62.8% of home purchases by foreigners, and their transactions rose 3.3% year on year. Over the same period, non-resident purchases fell 15.1%. In other words, the weight is shifting towards people who already live here.
How much per square metre do Spaniards, residents and non-residents pay?
Notary data for the first half of 2025 on free-market housing show a wide gap between profiles:
| Buyer profile | Average price per m² |
|---|---|
| Spanish buyers | €1,809/m² |
| Resident foreigners | €1,912/m² |
| Non-resident foreigners | €3,126/m² |
The resident foreigner pays almost the same as the Spanish buyer, while the non-resident pays considerably more. Even so, these are national averages covering very different homes, and Leonardo Cromstedt, president of Keller Williams Spain and Andorra, warns against associating all foreign buying with a high budget. They are also 2025 figures, which cannot be compared directly with the 2026 ones.
Who is buying to live here rather than for holidays?
Behind the label "foreigner" there are very different profiles. Cromstedt sums up the difference between someone buying for a few weeks a year and someone looking for a home to build their life here. The latter include:
- Families who prioritise being close to a school.
- Professionals who want a shorter commute or to work remotely.
- Households pooling a mortgage deposit who need financing.
For them, employment, schools, transport, services, savings, transaction costs and access to financing carry the most weight. Nationality, by contrast, says little about purchasing power, property type or intended use.
What does it mean in Málaga and the Costa del Sol?
The article does not analyse specific areas, but the local reading is straightforward: in Marbella, Estepona or Fuengirola the second-home buyer, the investor and the family settling year-round all coexist. Each profile looks at different things. Those living here compare schools, access and services; investors look at yield; holiday buyers look at views and community. As a reference for asking prices, our October 2026 market report puts the Costa del Sol median at €4,738/m², with very different ranges between municipalities:
| Municipality | Median price | Median €/m² |
|---|---|---|
| Marbella | €950,000 | €6,096/m² |
| Fuengirola | €560,000 | €5,417/m² |
| Malaga | €625,000 | €4,955/m² |
| Estepona | €637,000 | €4,750/m² |
| Mijas | €550,000 | €4,367/m² |
These are asking prices, not closing prices, based on 8,233 active EVS PROPERTY GROUP listings; you can see every municipality in our Costa del Sol market report.
Conclusion: classify the buyer before looking for a home
Keller Williams proposes classifying buyers by residence, budget and the intended use of the property: enjoyment, yield or everyday life. It is also a good starting point if you are thinking of buying: defining what you want the home for shapes the area, the type of property and the financing. At EVS Property Group we help you make it concrete on the ground, from search to purchase.
Frequently asked questions
What share of home sales are to foreigners?
Keller Williams puts foreign demand at around 22% of the sales it analyses, up from 18% the previous year. This is from its own portfolio, not the whole market.
Do foreigners pay more than Spaniards for housing?
It depends on the profile. According to the notaries (first half of 2025), resident foreigners paid €1,912/m² versus €1,809/m² for Spaniards, while non-residents paid €3,126/m².
Does buying as a resident mean it is a main home?
Not necessarily. Living in Spain does not mean the purchase is a main home: it can also be an investment or a second home.
What matters more than nationality for someone settling in Spain?
Employment, schools, transport, services, available savings, transaction costs and access to financing.
