Spain Property Market: Moroccans Become the Largest Foreign Buyers

Key takeaways

• Moroccans bought 4,960 homes in the first half of 2026, 419 more than British buyers.
• Moroccans paid an average of €801 per square metre, while US buyers paid €3,948.

Foreign purchasers in Spain changed their regional choices and spending patterns during the first half of 2026, with Moroccan residents taking a larger role while British buyers purchased fewer homes.

Moroccans lead with 419 more purchases

Moroccans represented 8% of all purchases made by foreign nationals, while the British share was 7.3%.

The shift followed a period in which British buyers accounted for 21.91% of foreign transactions in the first quarter of 2016. Moroccan purchases began accelerating in 2018, when first-half transactions increased by 28.8% year on year. Moroccans had previously exceeded British buyers in the first quarter of 2021 and were also narrowly surpassed by German purchasers in the third quarter of that year.

The Local described British buyers as remaining among the main foreign purchaser groups, rather than being clearly ahead of every other nationality.

Residency separates the buyer groups

Almost all Moroccan buyers were already living in Spain: The Olive Press placed that figure at 98.7%. By contrast, 52.6% of British buyers were non-residents purchasing Spanish holiday homes.

Regional choices also differed. Moroccan buyers represented 36.1% of foreign purchases in Murcia, 34.3% in Navarre, 25.1% in La Rioja and 23.7% in Aragon. The Local identified these as Spanish regions where tourism was not the main industry.

British buyers continued to favour coastal destinations. Their largest shares were in Andalusia at 11.2%, Murcia at 9.5%, the Canary Islands at 8.4% and the Balearic Islands at 8.1%. The Olive Press said British buyers had traditionally been among the biggest groups of foreign purchasers, particularly in coastal areas such as the Costa del Sol.

In Andalusia specifically, Moroccan buyers accounted for 19.4% of purchases by foreign residents. Related foreign-buyer reading includes our guide to Spain’s new housing decree and property rules and our coverage of heavy-rain risk for foreign property buyers.

British price average differs between reports

Moroccan buyers paid an average of €801 per square metre. American buyers paid the most among the foreign groups covered, at €3,948 per square metre.

The sources differ on the British average. The Olive Press reported €2,730 per square metre, while The Local listed €2,644 per square metre for buyers from the United Kingdom. The Local used those averages to calculate that a typical 80-square-metre apartment would cost a Moroccan buyer just over €64,000, compared with €315,840 for an American buyer.

The Local also reported an average of €2,644 per square metre for foreign buyers from Poland, Belgium, Ireland, France, Italy, the Netherlands, Russia and the United Kingdom.

Foreign demand falls 13 percent overall

Purchases by foreign residents fell by 9.7%, while purchases by foreign nationals living outside Spain dropped by 18%.

British buyers were also purchasing fewer properties, with their number down 21% from the first half of 2025. The Local described the decline in purchases by non-Spanish buyers, particularly non-residents, as the steepest drop since the Covid-19 pandemic.

Sources

• Moroccans overtake Brits as biggest foreign home buyers in Spain – snapping up homes in Murcia and north east — theolivepress.es, 2026-10-27
• Moroccans replace Brits as main foreign property buyers in Spain — thelocal.es, 2026-10-26