Foreign buyers are purchasing fewer homes in Spain despite continuing to pay record prices. According to notaries, 62,327 homes were bought by foreign purchasers in the first half of the year, down 13% year on year and representing the largest decline in transaction volumes since the COVID-19 pandemic. Morocco became the leading country of origin for buyers for the first time, ahead of the UK, Italy, Romania and Germany. Foreign buyers paid an average of €2,644/m², while non-resident purchasers paid close to €3,500/m² on average.

The real estate project being developed by the Cosentino Group in Mojácar (Almería) continues to gather momentum.

German buyers remain the leading non-resident nationality seeking mortgages to purchase property in Spain. According to idealista/hipotecas data, Germans accounted for 15.6% of applications in the second quarter, ahead of Britons at 10.6%. Swiss applicants ranked third with 9.4%, followed by the French (9.1%), Dutch (8.3%) and Americans (5.9%). Most demand was concentrated in the Valencian Community and Andalusia.

TM Tower in Benidorm, set to become the tallest residential building in the EU at 230 metres and 64 floors, is already under construction. Half of its 260 apartments have been reserved, with strong demand from Polish and Spanish buyers. Prices start at around €600,000, while the most exclusive units exceed €2 million, highlighting the project’s strong appeal in the luxury market.

Spain has become a leading destination for real estate investment, attracting strong interest from global investors. At SIMA, BlackRock’s Spain chief, Adolfo Favieres, described the country as “the star of Europe” thanks to solid fundamentals. The firm is focusing on hotels, student housing, residential sales and flexible living, while also maintaining interest in affordable housing. He expects this positive trend to continue in the short term.

Spain has reinforced its standing as a leading destination for real estate investment – with €6.39bn recorded in the first quarter, according to Colliers. This figure surpasses the combined total for Italy, France and Portugal, highlighting the market’s strength. Beyond southern Europe, Spain is also emerging as one of the most dynamic real estate hubs across the EMEA region – with strong performance driven by the living, retail and hotel sectors.

Demand for homeownership continues to focus on Spain’s provincial capitals, where housing supply is highest. According to an idealista study, Madrid leads the ranking of places with the greatest demand pressure in the first quarter of the year, followed by Zaragoza and Valencia. Hospitalet de Llobregat and Valladolid are gaining ground, overtaking Barcelona and Vitoria thanks to more affordable average prices. Las Palmas de Gran Canaria, Seville and A Coruña complete the top ten.

Spain has increased its share of European real estate investment, rising from 6% in 2019 to 15% in 2025, thus entering the "European top tier," according to the Spanish Association of Real Estate Consultants (ACI). In a comparative study, the association emphasises that the Spanish market "has moved from a secondary position to consolidate its place among the leading players in European real estate investment" and confirms its third-place ranking, after Germany (28%) and France (18%). Italy occupies fourth place (11%).

Foreign investment in Spain, excluding Foreign Securities Holding Entities (ETVE), totalled €30.764 billion in 2025, marking a year-on-year decline of 21.8%, according to the Foreign Investment Registry DataInvex of the State Secretariat for Trade.This is the lowest figure since 2021, when foreign d

Higuerón Developments will bring the Waldorf Astoria brand, part of Hilton, to Spain with a €220 million investment. The project will transform Marbella Golf into Higuerón Marbella Golf Resort, set to open in 2029. It will include 120 rooms and suites, 120 branded residences, a 750 m² spa, indoor and outdoor pools, a gym, wellness areas and several dining options – further strengthening Marbella’s position as a leading destination for high-end tourism.