Balearic Islands recover sales by foreigners

We share with you the analysis carried out by idealista.com in relation to the purchase of real estate properties in the Balearic Islands by foreigners during the fourth quarter of 2021.

According to the property registrars, "foreign demand in the residential market has registered a significant growth during the final stretch of last year". Thus, in the fourth quarter of 2021, "12.6% of all home purchases in Spain corresponded to foreign citizens".

The Balearic Islands lead, together with the Canary Islands and the Valencian Community, the areas with the greatest weight of owners of another nationality. And in this sense, once again the British lead in the purchase of properties in Spain.

Factors that have led to this growth

The Association of Property Registrars emphasizes that "relative control of the health situation" has allowed the return of non-resident foreign demand. In addition, it must be taken into account that the resident foreign demand continues to have "a notable weight".

Thanks to the measures adopted at a global level to curb the COVID19 pandemic, international mobility has been recovering, so that visits to buy a house in Ibiza have also increased.

These "good results", in the opinion of the registrars, "are even more relevant in a context of high activity in number of sales and purchases".

More than 100,000 home sales and purchases in Spain

In the fourth quarter of 2021, nearly 144,000 home sales and purchases were made in Spain, according to registry data. Of these, 12.6% were carried out by foreign nationals, i.e. some 18,150 transactions. At the national level, the main buyers were British (2,219), Germans (1,953), French (1,336), Moroccans (1,024), Belgians (983) and Swedes (937).

These data again put the citizens of the United Kingdom as the main ones interested in living in Spain, after ceding the leadership to the Germans last quarter. However, at the close of 2021, the weight of the British in the volume of purchases by foreigners was 12.4%, followed by Germans (10.9%), French (7.5%), Moroccans (5.7%), Belgians (5.5%) and Swedes (5.2%).

By regions, the highest weights of home purchases by foreigners were recorded in the Balearic Islands (38.9%).

Future forecasts in the buying and selling

For the country's notaries, "the most intense improvements have been registered in the coastal areas, with a greater impact from the demand of non-resident foreigners". This opinion is shared by the property registrars.

Regarding the future of the situation, they foresee that "the continuity in the recovery process of foreign housing demand of the last three quarters during 2022 will be conditioned by the evolution of the health situation and international mobility".

Do not hesitate to contact our real estate agents to resolve any questions you may have about buying and selling property in Ibiza.