It’s data time again, the foreign sales figures are in for Quarter 2. So, let’s take a look at whether there have been any interesting moves in the market, and how international buyers have been reacting during the last few months. Which areas are would-be expats most interested in, and which may be falling out of favour?
If you’re devising a marketing strategy to target international buyers, there’s plenty here you can use to help with your planning.
Trends in Q2 2019
First and foremost, we’re still seeing predominantly positive signs in the international housing market with sales to foreign buyers representing 17% of total Spanish property sales. Very much in line with recent years. And although figures are slightly down by 2% year on year, there’s been a slight rise on Q1 this year, with Q2 recording 25,542 Spanish sales in total to international buyers.
Overall, we’re predicting a continued positive outlook with full-year foreign sales very slightly above 2018 levels, demonstrating continuing confidence in the market.
Which are the most popular destinations?
After analysing the sales data, we’ve worked out which regions are the most popular with international buyers, to help you to decide whether you might need to adjust your sales strategies.
So what do the Q2 figures show? Yet again, Alicante appears in the top spot in terms of international sales market share, with 49% of sales in the region made to overseas buyers. The next four most popular regions were Tenerife, The Balearics, Málaga and Girona, where around a third of properties were sold to the international market. Others that made the top ten included Las Palmas region, Murcia, Almeria, Castellón and Valencia.
How is the picture changing?
When we look at the year on year change in the number of international sales in each province, the picture becomes much more interesting. Despite the positive signs overall, of the top ten most popular regions for foreigners to buy, only four have risen in terms of year on year sales.
Girona is showing the strongest signs of an increase in popularity – up 10% this year. And it has continually shown marks of increase throughout 2019, rising by 16% in Q1. Murcia too is showing an increased demand, up 9% this year.
As may be expected given recent trends for buyers shying away from islands to favour the more reasonably priced mainland coastal locations, we’re seeing a continued decrease in island sales. Tenerife is notable for its significant 25% reduction year on year, Las Palmas is down 17% but the ever-popular Balearics have seen a more modest 8% fall.
Cities are showing mixed results but are still very sought after. For example, international sales in Barcelona are up by 6% year on year.
What should you do?
As ever, we advise you not to rely too heavily on high level statistics and trends, because it’s always worth drilling deeper into the numbers. And while we continue to report a decline in island sales, that doesn’t mean it is all doom and gloom – the market is still undeniably strong in these regions.
It’s always useful to remember what international buyers are really looking for. And to look out too for longer term trends in sales, such as those seen in the provinces of Girona and Murcia. There could be plenty of opportunities worth investing in.