Americans rise to top of Spanish property market in decade-long ascent

The Association of Spanish Notaries has released a fresh report on foreign property purchases in the second half of 2025, revealing a rapidly shifting landscape. Whereas American investors were confined to luxury resort destinations just a few years ago, they now rank second by transaction volume in six regions of the country. This places them on par with French buyers and well ahead of the British, who now feature in the top three in only four regions.

The Dutch have quietly secured one of the leading positions in the secondary homes market. In Valencia, they account for 16 per cent of all foreign purchases; in Murcia, nearly the same; and in Andalusia, close to 14 per cent. Germans continue to dominate the islands, completing more than half of all foreign purchases in the Balearic archipelago.

British buyers are experiencing a prolonged decline. A decade ago, they ranked in the top two in fifteen of Spain's seventeen regions. They are now concentrated in a handful of traditional coastal enclaves. Brexit and shifting preferences have taken their toll.

Source: Spanish Property Insight