Who's Actually Buying in Spain Right Now: 2025 Transaction Data
Wesna GroupFull 2025 INE and Notariado transaction data: British lead volume (22,400), American highest per-transaction value (€481k), Belgian and Dutch growing fastest, Polish and Ukrainian expanding entry tier. Cohort-by-cohort geography and price band mapping for the Costa Blanca.
Foreign-buyer transactions accounted for 21.4% of all Spanish home sales in Q1 2026, the highest share since 2007. British buyers led the volume; Germans led the value per transaction; the fastest-growing cohort was the Belgian and Dutch mid-tier segment. This article maps who is actually buying Spanish property right now, using 2025 full-year INE + Notariado data plus Q1 2026 leading indicators.
Data sources: INE registered-deed transactions series, Consejo General del Notariado quarterly transactions summary, and Wesna's own MASA feed volumes.
The 2025 foreign-buyer breakdown
| Nationality | 2025 transactions | Share of foreign-buyer market | YoY change | Median transaction value (€) |
|---|---|---|---|---|
| United Kingdom | 22,400 | 21.8% | +18% | 264,000 |
| Germany | 11,100 | 10.8% | +4% | 348,000 |
| France | 9,800 | 9.5% | -2% | 291,000 |
| Netherlands | 6,700 | 6.5% | +11% | 302,000 |
| Belgium | 6,200 | 6.0% | +14% | 279,000 |
| Morocco | 5,400 | 5.3% | +7% | 152,000 |
| Sweden | 4,100 | 4.0% | +5% | 336,000 |
| Norway | 3,700 | 3.6% | +8% | 358,000 |
| Italy | 3,500 | 3.4% | +3% | 224,000 |
| Poland | 3,300 | 3.2% | +19% | 187,000 |
| Ukraine | 3,100 | 3.0% | +12% | 158,000 |
| Ireland | 2,900 | 2.8% | +9% | 268,000 |
| Denmark | 2,700 | 2.6% | +6% | 314,000 |
| Russia (non-sanctioned) | 2,400 | 2.3% | -8% | 197,000 |
| United States | 2,200 | 2.1% | +22% | 481,000 |
Total foreign-buyer transactions 2025: approximately 103,000, or 19.3% of all Spanish home sales. Q1 2026 running rate: 27,500 transactions, projected 110,000-115,000 for full year 2026.
What is driving the growth
British buyer inflow rebounded strongly in 2025. Post-Brexit period stabilised (residency treatment now clear), UK domestic housing costs pushed retirees toward Spain, and GBP-EUR stayed in the 1.15-1.20 range that makes Spain accessible.
American buyers are the fastest growth segment. From a small base (2,200 transactions), US buyers grew +22% YoY. Concentrating in Costa del Sol premium tier (Marbella, Estepona) and Barcelona centre. Wesna sees emerging US enquiry volume on the Costa Blanca north but no scale yet.
Central-eastern European buyers (Poland, Ukraine, Czechia) growing steadily. Polish +19%, Ukrainian +12%, Czech growing from small base. Concentrating in Costa Blanca south (Torrevieja, Orihuela Costa) at €120-200k entry tier.
Belgian and Dutch mid-tier consolidating. Both grew double-digit in 2025. Concentrating in Costa Blanca north (Denia, Moraira, Javea) and Marina Baixa (Villajoyosa, Alfaz del Pi, Altea).
Where each cohort concentrates
UK buyers. Costa Blanca south (Torrevieja, Orihuela Costa, Pilar de la Horadada) 45% share; Costa del Sol 25%; Costa Blanca north (Denia, Javea, Moraira) 15%; other 15%.
German buyers. Costa Blanca north (Denia, Moraira, Javea, Altea) 42%; Balearic Islands 22%; Costa del Sol 18%; Canary Islands 12%; other 6%.
Belgian and Dutch buyers. Costa Blanca north 38%; Costa Blanca south 22%; Costa del Sol 16%; other 24%.
Polish, Ukrainian, Czech buyers. Costa Blanca south (Torrevieja, Orihuela Costa, Los Alcazares) 62%; Costa Cálida 18%; Costa del Sol 12%; other 8%.
Russian buyers (non-sanctioned). Torrevieja area 48%; Costa del Sol 22%; Barcelona 12%; other 18%.
Median-price ladder by cohort
Different national groups anchor different price bands, and understanding the ladder helps identify where competition sits.
- Entry tier (€100-200k): Polish, Ukrainian, Czech, Russian, Moroccan buyers concentrate. Also British first-time buyers on marginal budget.
- Mid tier (€200-400k): British, Belgian, Dutch, Italian, Irish, French cohorts dominate.
- Premium tier (€400-700k): German, French, Nordic (Sweden, Norway, Denmark) cohorts concentrate.
- High tier (€700k+): German (villa buyers), American, Nordic, UK trophy-second-home buyers.
What the 2026 growth pattern suggests
The mix shift toward Belgian, Dutch, Polish, Ukrainian and American cohorts extends the geographic footprint of foreign buyer demand:
- Costa Blanca north continues to firm. Belgian, Dutch, German inflow keeps prices in Moraira, Denia, Javea, Villajoyosa on their +6-10% YoY trajectory.
- Costa Blanca south absorbs entry-tier growth. Polish, Ukrainian, Czech, Moroccan volume plus continuing UK entry-tier keeps Torrevieja and Orihuela Costa in the +14-16% YoY band.
- Costa Cálida (Murcia coast) rising. Los Alcazares, San Pedro del Pinatar, La Manga absorbing marginal buyers priced out of Torrevieja.
- Alicante inland corridor firming. Ciudad Quesada, Rojales, Los Montesinos capturing families needing bigger plots at lower price than coast.
Sample stock for each cohort
Entry tier (Polish / Ukrainian / Czech / Moroccan):
Mid tier (British / Belgian / Dutch):
- WES-2402K San Miguel de Salinas 3-bed, 88 m², €190,000
- WES-2318C Calpe 2-bed, 84 m², €299,000
- WES-2038 Denia 1-bed, 53 m², €260,000
Premium tier (German / French / Nordic):
FAQ
Which nationality buys the most in Spain? British by transaction count in 2025 (roughly 22,400 transactions, 21.8% of foreign-buyer market).
Which nationality has the highest median transaction value? American buyers at approximately €481,000 median in 2025, followed by Norwegian at €358,000 and German at €348,000.
Is UK buyer interest slowing? No. UK transaction volume grew +18% YoY in 2025 and Q1 2026 running rate suggests full-year 2026 volume similar. Post-Brexit stabilisation removed the main uncertainty.
Where are American buyers concentrating? Costa del Sol (Marbella + Estepona) premium tier, Barcelona centre, and a small but growing Costa Blanca north presence (Denia, Moraira, Javea). Wesna sees emerging enquiry volume but no scale yet.
Are Russian-passport buyers still active? Yes but volume declined 8% YoY in 2025 as source-of-funds paperwork intensified. Concentrate in Torrevieja area and Marbella. See sanctions and Spanish property article for the compliance layer.
Next steps
For a cohort-specific brief on comparable buyer profiles for your target property, contact Wesna. We work in English, Russian, Ukrainian and Spanish.
Related: Long-term rental yields by Costa Blanca town, Costa Blanca square-meter prices 2026 vs 2024, Costa Blanca sales volume Q2 2026.
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