One in three people who want to buy a house in the Balearic Islands is a foreigner.
Germans are the most interested in acquiring property in the Archipelago
Palm31.5% of people looking to buy an apartment or house in the Balearic Islands are foreigners. This figure makes the archipelago the second province in Spain with the highest share of foreign demand for home purchases, according to data published by the real estate website Idealista.
The study by the real estate website published this Thursday indicates that, of the total foreign demand for purchases in the Islands, 42% are German; 11% are British; and 7% are French.
Across the country, British nationals continue to be the largest number of foreign home buyers in Spain, but citizens from other countries, such as Germany, France, the Netherlands, and Italy, are increasingly interested in acquiring property on the Mediterranean coast.
By province, Alicante (33.2%), the Balearic Islands (31.5%), and Malaga (27.1%), along with Santa Cruz de Tenerife (25.8%), are the ones that receive the greatest weight of foreign demand during the second quarter.
By 2025, according to idealista, demand for buying a home in Spain is expected to remain high among these citizens from outside the State, but it is increasingly clear how the British are giving way to other nationalities in the interest in buying a property in Spain, mainly on the Mediterranean coast.
