Valencia – Spain’s Top Region for Foreign Homebuyers

Valencia Region accounts for nearly 1/3 of all foreign home purchases in Spain

Foreign demand for Spanish real estate has hit a new record in 2024 – nearly 100k properties were purchased by international buyers! These purchases account for almost 15% of all real estate transactions in Spain in 2024. Most in demand was the Valencia Region, which attracted nearly one third of all foreign purchases, well ahead of 2nd and 3rd places Andalusia and Catalonia respectively.

The greatest focus of attention is Alicante province, responsible for a staggering 25% of all foreign purchases nationwide, and more than double that of Málaga. So what is it about Alicante province (basically the Costa Blanca) that appeals so much to foreigners?

Alicante offers a delicious cocktail of lifestyle and economic benefits including sunshine, affordability, modern infrastructure, thriving economy, and a large established international community. There are direct flights from most major European cities into a choice of two nearby international airports (Valencia and Alicante) and a variety of real estate options ranging from budget-conscious to ultra luxury. Areas such as Torrevieja, Orihuela Costa, Ciudad Quesada, Gran Alacant, Benidorm, Javea, Moraira, Benissa, Albir, Denia, Altea, and of course Alicante City, remain firm favourites for British, Dutch, Belgian, German, French, and Scandinavian buyers alike.

Málaga still retains its glamour and continues to attract foreign interest, however higher prices and growing density in the Costa del Sol have seen buyers flock to Alicante and the Costa Blanca for a more appealing and spacious alternative, especially for middle-income buyers, remote workers, and retirees.

In the centre of the country, Madrid accounts for a meagre 7% of foreign purchases. Despite stronger year-on-year property sales, it lacks the relaxed coastal charm that retirees, relocators, and second-home seekers crave, and its property prices present a larger obstacle for most.

Spain is firmly seated as one of Europe’s top three destinations for foreign buyers, alongside France and Portugal. The country offers affordable housing (in comparison with other European locations), excellent healthcare options, a robust infrastructure, and a variety of professional services for foreigners.

The profile of the average real estate buyer in Spain is also evolving. While Brits and Germans still dominate, there’s notable growth in buyers from Scandinavia, Eastern Europe, the Netherlands, Belgium, China, and Morocco. A growing number of new buyers are younger professionals and remote workers, not just retirees and holiday homeowners. This is largely due to (post-covid) lifestyle changes and the increase in remote working and digital nomadism.

In 2024 new-build sales accounted for more than 1/5 of real estate purchases by foreigners in Spain, and growing faster than resales. Modern new properties hold special appeal to Nordic and American buyers for their transparency, energy efficiency, and compliance with legal standards. This is an important factor given Spain’s history of unlicensed builds and illegal homes.

Within the Valencian Community, the most attractive destinations continue to be:

Costa Blanca North (Javea, Altea, Moraira): scenic, tranquil, and upmarket.

Costa Blanca South (Torrevieja, Orihuela Costa): vibrant, affordable, and international.

Valencia City outskirts: increasingly popular among young professionals and digital nomads.

As Spain’s property market grows increasingly international, the Valencian Region stands out not only for its numbers of foreign real estate purchases, but also for its exceptional lifestyle that appeals to so many.