The Madrid property market continues to attract interest from American buyers, according to idealista’s data on listings over recent quarters. In 2025, a notable shift has emerged in the language of searches from the US, with Spanish speakers (47.2%) now overtaking English (46.3%) as the dominant language for the first time.
Pressure from Donald Trump’s policies on the immigrant population may have contributed to the rise in Hispanic demand for properties in Spain, particularly in Madrid.
In the province of Madrid, foreign buyers account for 4.5% of the market, with Americans making up almost 18% of visits to listings on idealista, ahead of the British (8.3%) and French (7.7%).
In the city of Madrid, foreign demand represents 6% of the market, with Americans again leading at 18%, followed by the British (7.9%), French (7.5%) and Italians (6.3%).
This marks a significant rise in the use of Spanish as the preferred language for US-based home searches in Madrid. In previous quarters, English was clearly dominant: in Q2 2025, English accounted for 66.2% of searches compared with 26.2% for Spanish, while in Q3 2023, English represented 67.4% versus 24% for Spanish.
This shift may be linked to growing demand from Latin American buyers living in the United States, as well as Spanish-speaking residents temporarily based in the US who are seeking opportunities in the Madrid market, both for investment and to establish a residence in Spain.
For rental housing in Madrid, English remains the dominant language, largely due to American students spending six months to a year in the capital, who make up almost 66% of US demand. However, Spanish searches, while only 29%, have reached their highest level since 2023.
Foreign demand for rentals accounts for a larger share of the market, representing 16.5% in the city of Madrid and 12.5% across the province. Americans continue to be the most active visitors on idealista for rental properties, particularly in the capital, making up 14% of foreign demand, ahead of the French (8.3%), Italians (8.1%), Mexicans (6.4%) and Colombians (4.5%).
Americans are the non-resident foreigners who buy the most houses in Madrid
Statistics from the General Council of Notaries confirm the trends seen in idealista data. In the first half of 2025, home purchases by foreigners in Spain rose by 2% year-on-year to 71,155 transactions, representing 19.3% of all sales between January and June.
Although significant, this share is slightly below the 20.3% recorded in the first half of 2024 and the 21.3% of the same period in 2023, reflecting steady growth at a more moderate pace. Foreign residents accounted for 60.9% of transactions, up 6.4%, while non-residents represented 39.1%, a decline of 4.1%.
Americans have been among the standout nationalities this semester, alongside Portuguese, Ukrainians, Italians, Moroccans, Colombians and Dutch buyers. The combined transaction volume of these seven nationalities has nearly quadrupled compared to the first half of 2007. For the first time, US buyers have exceeded 1,500 transactions in six months. Following the pandemic, American purchases in Spain have doubled, from 1,089 in 2019 to over 2,200 in 2022, with a record 2,800 transactions in 2024.
American buyers paid an average of €3,465/m², the highest among all foreign nationals and well above the overall average of €2,417/m². Their purchases are split between residents (47%) and non-residents (54%). Non-resident Americans saw the largest growth over the past year, with purchases up 19.1%, compared with 9.4% for residents, and paid significantly more for property (€3,697/m² versus €3,185/m² for residents).
Non-resident US citizens make up the majority of foreign property transactions in regions such as Navarre (22.2%), Asturias (15.3%) and Madrid (14.6%), far surpassing Chinese buyers (7.7%) in the capital. Americans also have a strong presence in the Basque Country (14.8%) and Castile and León (13.1%).
Non-resident US citizens account for the majority of property transactions by foreigners in regions such as Navarre (22.2%), Asturias (15.3%), and Madrid (14.6%), far surpassing Chinese buyers (7.7%) in the capital city. Americans also feature prominently in the Basque Country (14.8%) and Castile and León (13.1%).
High-end homes in Spain see rising demand from Chinese buyers
Foreign buyers remain highly active in Spain’s housing market, with over 70,000 transactions recorded in the first half of 2025 alone, according to the latest notary data. Non-resident Chinese buyers, in particular, have paid the highest prices, with an average of €4,116/m²—the top figure this semester and the second-highest on record.
Americans, Portuguese, Moroccans and Ukrainians buying more homes in Spain than ever
The latest data from Spanish notaries on property purchases by foreign buyers has revealed several records. Not only did foreigners pay the highest average price on record for properties during the first half of the year, but as many as seven nationalities also bought more homes than ever before on the Spanish market.
Seville's most affordable neighbourhoods
Seville is a very affordable city to buy a house compared to other major Spanish cities. According to the latest idealista data, the average property price in Seville is €2,588/m², exceeding the national average by €33/m², yet it is significantly lower than €5,705/m² in Madrid or €5,042/m² in Barcelona.