9 in 10 luxury flats in Spain are bought by foreigners

Barnes’ report shows a 30% increase in transactions by foreign buyers in 2024, with prices reaching €16,500 per sqm for second-hand homes in Spain’s luxury sector. Major cities like Madrid, Barcelona, and San Sebastian are attracting investors due to security, lifestyle, and cultural offerings. Despite government measures targeting non-EU buyers, experts believe crackdowns may not benefit ordinary Spaniards as foreign buyers only accounted for 3% of total home purchases in 2023.

Full Article