The Spanish residential market continues to demonstrate resilience and stability after several years of intense activity. According to Sonneil Homes' analysis based on data from the Spanish Land Registry for the third quarter of 2025, second-home purchases by foreigners remain high, exceeding 9,100 transactions, representing a slight year-on-year decrease of 8%.
A total of 174,384 home sales were completed in Spain, 4.7% more than in the same period of the previous year. Regarding second home purchases, these transactions, which accounted for 5.2% of the total, confirm that international demand remains one of the structural pillars of the Spanish real estate market.
Buyers choose Malaga and Alicante
The provinces of Alicante and Málaga account for almost 4 out of every 10 purchases made by foreigners in the Spanish market. This means that more than a third (35.9%) of all purchases made by foreigners in Spain during the third quarter were in Alicante and Málaga.
Alicante leads the ranking with 5,741 operations, representing 43.29% of the provincial total, a figure that has grown slightly compared to the previous year (+0.21 pp).
Malaga, with 2,750 transactions and a 31.84% foreign share, maintains a high level of interest, confirming its attractiveness as an investment destination and second home.
For Sonneil Homes, the Costa Blanca and the Costa del Sol consolidate their leadership due to their combination of quality of life, international connectivity and diverse real estate offering, capable of sustaining demand even in a context of global adjustment.
The Mediterranean coast is gaining prominence
The Valencian coast shows positive growth. Valencia recorded 10,491 transactions (+2.48% year-on-year) with an 11.25% foreign share, reflecting a balanced market between domestic and foreign demand.
For its part, Castellón stands out with a growth of 9.53% in total sales and a rise of 1.21 points in foreign weight (up to 13.58%), confirming the good trend of municipalities such as Peñíscola, Oropesa or Benicàssim.
In southeastern Spain, Murcia is consolidating its position as an emerging market for second homes, with 6,588total (+5.02% year-on-year) and a foreign market share of 21.89%. Its balance between quality of life and competitive prices strengthens its appeal compared to more established destinations.
The Balearic and Canary Islands are stabilizing after the peaks ofrecentyears
In the archipelagos, the adjustment is mild: the Balearic Islands grow by 3.17% in total sales, although they reduce their foreign share by three points, and the Canary Islands maintain their attractiveness with a solid base of European buyers, especially from the north and center of the European continent (Santa Cruz de Tenerife: sales -7.23% year-on-year and foreign share -3.15%; Las Palmas: -6.60% and -0.92%).
Urban markets show a stable and sustained trend. Barcelona increased its sales by 9.62% year-on-year, driven by domestic demand, while Madrid remained virtually flat (-0.61%) with a contained foreign market share (6.85%).
The Netherlands is growing strongly and the market is diversifying
The Spanish international market shows increasing diversification. The Netherlands stands out with a year-on-year increase of 13.79%, reaching1,416 homes purchased in Spain, placing it as the third largest nationality after the United Kingdom and Germany.
British buyers , although their share has decreased to 7.9% of the total, maintain their historical leadership within the international market. Sonneil Homes explains that this correction is part of a long-term downward trend, which has fallen from 28% in 2006 to the current level. This correction is due more to structural factors such as the evolution of the pound, interest rates, and the impact of Brexit than to a temporary dip. Despite the third-quarter figure being the second lowest in the entire historical series, only exceeding the 7.77% recorded in the previous quarter, British demand continues to be one of the strongest and most deeply rooted in the Spanish market, especially in the main coastal destinations, with almost 2,000 purchases.
Germans, with over 1,500 transactions, followed by French, Belgian, and Polish buyers, all exceeding 1,000, and Swedes and Russians, account for nearly 9,200 second-home purchases in Spain during the third quarter of the year. “The Spanish international market has become more diverse and sustainable. Today, foreign buyers are more varied and combine investment, lifestyle, and remote work motivations, which brings greater stability to the sector,” emphasizes Alfredo Millá, CEO of Sonneil Homes.
A more balanced and sustainable market
For Sonneil Homes, the evolution of the third quarter, compared to the previous one, reflects a stage of maturity in the Spanish residential market, with figures that are consolidating at high levels and a more stable growth model.
“Spain maintains a leading position in Europe as a residential and investment destination. International demand remains strong and complements the momentum of domestic buyers, guaranteeing a more balanced and predictable market,” concludes the Sonneil Homes analysis team.
About Sonneil Homes
It is a real estate company specializing in the sale of second homes in the most sought-after coastal areas of Spain.
