In the first half of 2026, foreign buyers purchased 62,327 residential properties in Spain — 13 per cent fewer than in the same period a year earlier. However, the average price of the properties they purchased rose by 9.4 per cent to a record €2,644 per square metre. These figures were published on 15 October by the General Council of Notaries of Spain (Consejo General del Notariado), according to Open4Business.
According to data from the Notarial Statistical Information Centre (CIEN), the year-on-year decline in the number of transactions involving foreign buyers was the most significant since the first half of 2020. The proportion of foreign buyers amongst all property purchasers fell to 18.3 per cent, compared with 19.2 per cent a year earlier and 20.3 per cent in 2024. There was a particularly marked decline in activity among non-resident buyers: they purchased 22,940 properties — 18 per cent fewer than a year ago. They accounted for 36.8 per cent of all transactions by foreign buyers.
Foreigners residing in Spain bought 39,387 properties — 63.2 per cent of the total number of purchases made by foreign nationals. Compared with the first half of 2025, their activity fell by 10 per cent. Despite the decline in the number of transactions, prices continued to rise. Non-residents paid an average of €3,493 per square metre — 11.8 per cent more than a year earlier. The average price for foreign residents was €2,102 per square metre (+9.8%), whilst for Spanish citizens it was €1,971 (+8.7%).
Moroccan nationals were the largest group of foreign buyers in the first half of the year: they completed 4,960 transactions, accounting for 8 per cent of all foreign purchases. For the first time, they overtook British nationals in this respect, who accounted for 4,541 transactions (7.3 per cent). Italy took third place with 4,109 transactions (6.6 per cent), Romania fourth with 3,974 (6.4 per cent), and Germany fifth with 3,907 (6.3 per cent).
US citizens had the highest average purchase price for property – €3,948 per square metre. They were followed by buyers from Sweden (€3,839), Germany (€3,763), Switzerland (€3,760) and Norway (€3,588). Ukrainians also remain a significant group of foreign property buyers in Spain. The notaries’ brief report for the first half of 2026 does not provide separate absolute figures for Ukrainian citizens; however, such data is available in the official statistics of the Spanish College of Registrars.
According to the registrars’ data, in the first quarter of 2026, Ukrainians accounted for 3.08 per cent of all registered property purchases by foreigners. They ranked tenth among national groups — this amounts to approximately 764 transactions. In the second quarter, the proportion of Ukrainians stood at 2.94 per cent, and they dropped to eleventh place in the ranking. Based on the total number of registered transactions by foreign nationals, Ukrainian citizens accounted for an estimated 789 purchases.
Thus, according to the results for the first half of 2026, Ukrainians may have purchased around 1,550 properties in Spain, based on the methodology of the College of Registrars.
The statistics from the Registrars’ Board and notaries do not match: according to the former, foreigners purchased around 51,600 properties during the half-year, whilst notaries recorded 62,300 transactions. This discrepancy is due to the fact that the authorities record different stages of the transaction process and use different calculation methods. Consequently, the estimated number of purchases by Ukrainians cannot be directly compared with the total number of transactions in the notaries’ statistics.
Among individual national groups, the largest annual decline in purchases, according to notarial statistics, was recorded among citizens of Russia (-26.2 per cent), China (-26.1 per cent), the USA (-22 per cent), Bulgaria (-21.6 per cent), Belgium (-21.3 per cent) and the United Kingdom (-21 per cent). Among the main groups of foreign nationals, only citizens of Venezuela (+10.2 per cent) and Colombia (+7.4 per cent) saw an increase in the number of purchases.
Tourist and coastal regions continue to see the highest level of activity from foreign buyers. In the Valencian Community, non-residents purchased 9,250 properties — 40.3 per cent of all purchases in this category in Spain. A further 5,800 transactions took place in Andalusia, and 2,046 in the Canary Islands. Among foreign residents, the highest number of transactions was recorded in Catalonia (8,516), the Valencian Community (8,196) and Andalusia (6,007).
The number of property purchases by foreigners fell in almost all of the country’s autonomous communities. The exceptions were Castile-La Mancha (+4.4 per cent) and Extremadura (+3.3 per cent). The sharpest falls were recorded in Cantabria (-20.5 per cent), the Canary Islands (-20.3 per cent) and the Autonomous Community of Madrid (-19.7 per cent). In the Balearic Islands and Valencia, the number of transactions fell by 15.4 per cent.
Prices for foreign buyers rose in 15 out of 17 autonomous communities. The most significant price increases were recorded in Cantabria (+23 per cent), Asturias (+22.3 per cent), Extremadura (+16.4 per cent), Valencia (+15.6 per cent) and Madrid (+15.4 per cent). The statistics point to changes in the Spanish market: after several years of high activity, the number of purchases by foreigners has begun to decline, yet the value of properties purchased continues to break records.
For international investors and foreigners planning to move to Spain, this means that buying a property is becoming more expensive, even against a backdrop of weakening demand. At the same time, regional differences remain significant: the market in coastal resorts differs markedly from the situation in the country’s inland areas. The Consejo General del Notariado is the national body representing Spain’s notarial profession. Its statistical centre, CIEN, analyses data on notarised transactions. The Colegio de Registradores maintains separate statistics on registered property rights, including a breakdown by the buyers’ nationality.