Which nationalities are buying homes in Spain in 2026: British buyers retreat and non-residents pay a record price

Morocco, the United Kingdom, Italy, Romania and Germany, in that order, were the nationalities that bought the most homes in Spain in the first half of 2026, according to Spain's General Council of Notaries. Among buyers who do not live here, the Netherlands, Germany, the United Kingdom and Poland lead, and that non-resident buyer paid an average of €3,493 per square metre, the highest figure on record.

The figures come as international demand cools. Foreign buyers signed 62,327 open-market home purchases between January and June, 13% fewer than a year earlier and the steepest fall since the first half of 2020. They are buying less but paying more: their average price rose 9.4% to €2,644 per square metre.

How many homes did foreigners buy in the first half of 2026?

The fall is broad but uneven. Foreigners who already live in Spain, who sign almost two in three of these purchases, are falling back less than those buying from abroad, whose volume is the lowest in five years. Overall, foreign buyers' share of the market slips to 18.3% of sales, down from 19.2% in 2025 and 20.3% in 2024.

Source: Spain's General Council of Notaries, open-market home sales in the first half of 2026.

Which foreigners buy the most homes in Spain?

For the first time, Moroccan buyers top the list, ahead of the British. The top five nationalities account for just over a third of all purchases by foreigners, and buyers from other non-EU countries add another 7,822 deals, or 12.5%.

That ranking is driven mainly by resident foreigners buying their main home. Among residents, Moroccans sign 12.4% of purchases, ahead of Italians (9.2%), Romanians (9%) and Britons (5.5%), and their weight is greatest in regions such as Murcia, Navarre, La Rioja and Aragon.

Who buys homes in Spain without living here?

Non-resident buyers are a different profile: they are looking for a second home or a base for long stays, and they concentrate on the coast and the islands. Here the ranking changes completely: the Dutch sign 12.6% of non-resident purchases, Germans 11.8%, Britons 10.4% and Poles 8.1%.

Andalusia is their second destination. The region recorded 5,800 non-resident purchases, one in four in the country, behind only the Valencian Community (9,250). Adding the 6,007 resident foreigners who bought there, the Andalusian total tops 11,800 deals, 12.7% fewer than a year ago. In Andalusia, the Dutch signed 13.4% of non-resident purchases.

Which nationalities are buying fewer homes in 2026?

Almost every nationality is buying less than a year ago, but at very different speeds:

• Down more than 20%: Russia (-26.2%), China (-26.1%), the United States (-22%), Bulgaria (-21.6%), Belgium (-21.3%) and the United Kingdom (-21%).
• Small falls: Poland (-6.6%), Portugal (-5%) and Norway (-1.2%).
• Rising: Venezuela (+10.2%) and Colombia (+7.4%).

The notaries do not explain the causes, but some factors are well known. Since Brexit, a British citizen without residency can only spend 90 days in every 180 in the Schengen area, and since April 2025 buying a home no longer gives access to the golden visa, which only buyers from outside the EU could apply for. For sellers, the lesson is that international demand is not a single block: Poles and Norwegians are almost holding their pace while Belgians and Britons are falling sharply.

How much do foreign buyers pay per square metre in 2026?

While volumes fall, prices keep climbing. Non-resident buyers paid an average of €3,493 per square metre, 11.8% more than a year earlier; resident foreigners paid €2,102 and Spanish buyers €1,971. The gap between non-residents and residents reaches €1,391 per square metre, another all-time high.

By nationality, the highest payers are Americans (€3,948/m²), Swedes (€3,839/m²), Germans (€3,763/m²), the Swiss (€3,760/m²) and Norwegians (€3,588/m²). At the other end are Moroccans, at €801/m², and Romanians, at €1,439/m²: they buy a lot, but in more affordable homes and areas.

The notaries' historical series shows how much the market has changed. In 2008, before the crisis, non-residents paid a third more per square metre than Spanish buyers. Today they pay 77% more.

Average price per square metre, not adjusted for inflation. Source: Spain's General Council of Notaries; the premium is calculated by EVS.

Since 2008, what non-residents pay has risen by 44% and what Spanish buyers pay by 8.5%. The premium was around 20% at the worst of the crisis, close to 50% before the pandemic and has not dropped below 60% since 2021. International buyers are increasingly concentrated on the coast and in high-end homes.

How much of the Costa del Sol can you buy at €3,493 per square metre?

The national non-resident average is a useful benchmark, but it falls short on the Costa del Sol. According to our October market report, the coast's median is €4,738 per square metre, 36% higher. We have calculated what share of the homes we have for sale is priced at or below that €3,493 per square metre:

Asking prices of the homes for sale in the EVS catalogue. Medians from the October 2026 market report; percentages calculated on 15 October 2026.

The result is clear: the per-square-metre budget of an average non-resident covers only 8% of the homes for sale in Marbella, and 11% in Benahavís. In Manilva and Casares, by contrast, around half of the supply is within reach. These are asking prices rather than deed prices, so the comparison is indicative, but it confirms that the Málaga coast plays in a different league.

The province of Málaga is also holding up better than the country as a whole. As we saw with the Ministry of Housing data, one in four buyers in the province is a non-resident foreigner, a share that has been stable for four years.

What changes for buyers and sellers on the Costa del Sol?

• If you are selling, think about several markets at once. The Dutch and Germans already buy more than the British among non-residents, and Poles and Norwegians are almost holding their pace: present the home in their languages and with a remote decision in mind.
• If you are buying, there is somewhat less international competition than a year ago, which gives a little more room to compare and negotiate. But don't expect bargains: non-residents are paying 11.8% more per square metre than a year ago.
• If you are investing, look at the price per square metre as well as the total price: in our portfolio, one in four homes on the coast is still below what the average non-resident pays in Spain, especially in Manilva, Casares and Mijas.

In short: fewer foreign buyers, paying more than ever

The first half of 2026 leaves international buyers signing fewer deals and paying record prices, with a change of nationalities at the top: resident Moroccans lead overall, and the Dutch and Germans lead purchases from abroad. On the Costa del Sol, where the median comfortably exceeds what the average non-resident pays, choosing the right area makes the difference. If you want to compare towns or prepare a sale for foreign buyers, at EVS PROPERTY GROUP we can help you in your language.

This article is for information only and does not constitute investment advice.

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