Spain’s property market remains firmly on the radar of international buyers, with sales of second homes to foreign nationals increasing by 2% in 2024, according to the latest data from the College of Registrars. The figures confirm Spain’s continued appeal as a destination for lifestyle-driven investment, particularly along the Mediterranean coast and island regions. The data shows that nearly 63,000 second homes were purchased by international buyers in 2024, representing 45% of all foreign property transactions in Spain. This upward trend reinforces the enduring popularity of Spanish real estate among non-resident Europeans and overseas investors seeking a safe, sun-drenched retreat.
Where Foreign Buyers Are Investing
The most sought after areas remain the Balearic Islands, Canary Islands, the Valencian Community, Murcia, and Andalucía. These regions account for over 80% of all foreign second home purchases, driven by their favourable climate, beachside lifestyle, and well-established infrastructure for expats and international residents.
Andalucía, and particularly the Costa del Sol, continues to be one of the top performing destinations. Marbella, Estepona, and the surrounding municipalities remain in high demand thanks to a combination of luxury property offerings, international schools, proximity to Malaga airport, and a robust market for both resale and new developments.
What sets the Costa del Sol apart from other second home hotspots is the depth of its luxury segment. Buyers are not simply choosing a coastal apartment, they are choosing gated communities, branded developments, and villas with the kind of specification and service normally associated with the world’s established prime property markets.
Who Is Buying
British buyers retained their position as the largest group of foreign second home purchasers, followed by German, French, and Belgian nationals. The report also notes a growing share of Nordic and Dutch buyers, as well as a noticeable increase in interest from Polish and American investors, many of whom are entering the Spanish market for the first time.
On the ground in Marbella, this national mix is visible in the type of property changing hands. British buyers have increasingly favoured penthouses along the coast, while newer arrivals from Poland and the United States tend to lean toward villas and new build developments, often purchasing sight unseen after a single viewing trip.
What’s Driving the Trend
That broadening matters for pricing too. A wider pool of nationalities competing for the same limited stock of well located coastal property tends to support values over the medium term, since demand is less exposed to a slowdown in any single source market, which is one reason agents on the Costa del Sol tend to describe the current cycle as considerably more resilient and better diversified than previous cycles.
This shift toward second home ownership reflects broader lifestyle changes post pandemic, where remote work and flexible living have prompted a reassessment of how and where people want to spend their time. For many, a second home in Spain now serves not only as a holiday retreat but also as a base for extended seasonal stays or hybrid work arrangements.
As Spain continues to attract international investment, second homes are proving to be a key component of the market’s resilience. With stable pricing, continued infrastructure improvements, and attractive long-term value in coastal areas, Spain is expected to remain a top tier destination for foreign property ownership in 2025 and beyond.
For Marbella specifically, the data lines up with what agents on the ground have been reporting for some time: demand is broadening beyond the traditional British and Northern European base, even as those buyers remain the backbone of the local second home market.
