Alex Trelinski
FOREIGN home buyers are continuing to eye up the bulk of their purchases in Mediterranean coastal locations plus the Balearic and the Canary Islands, according to the latest study from property portal idealista.
Their report highlights 120 areas where foreign demand represents more than 50% of the home buying market in sun and beach destinations.
In areas like Roses (Girona), Calpe (Alicante) or Andratx (Mallorca), foreign interest is over 65% in regard to searches made on the idealista website with people from France, the Netherlands, and Germany the most prominent.
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Alicante province featuring the Costa Blanca has the highest number of search locations, namely 30, where foreign interest exceeds 50% of the total demand.
Popular spots include Los Frutales in Torrevieja; the districts of Moraira de Moravit-Cap Blanc, Paichi or Pinar de Advocat-Cometa, all with a foreign demand of between 64%-65% of the total, as well as areas of the Orihuela Costa like Playa Flamenca or La Zenia.
The Balearic Islands have 28 locations, some of them attracting 67% of foreign interest including Cala Ratjada or Canyamel, in Mallorca, together with Andratx, including Port d’Andratx or Es Camp de Mar or Cala Murada in Manacor.
Santa Cruz de Tenerife has 23 of the most sought-after locations in total such as Playa de Fañabe, Torviscas Bajo or La Caleta in Adeje, as well as Vallehermoso, on La Gomera and Barlovento on La Palma.
In Malaga province, the Nerja area stands out with Burriana, Nueva Nerja, Chaparil – Torrecilla – Punta Lara or the town centre, next to the Bay of Casares as well as the districts of Guadalobon, Buenas Noches and Bahía Dorada in Estepona, and Puerto Banuss, in Marbella.
For the first time in a long time, idealista says people from the UK are not leading the demand for foreign homebuyers in Spain.
Although they remain the biggest foreign purchasers in Spain, they are not the most prominent nationality in locations with the highest demand from abroad.
Germans are the most prominent foreign group among the 120 areas analysed, showing the leading interest in 55 of them- especially in the Balearic and Canary Islands.
