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TENERIFE PROPERTY MARKET | Tenerife’s 23 Locations Among Top 120 Most Sought After in Spain for Foreign Homebuyers

June 6, 2024
in El Dia
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TENERIFE PROPERTY MARKET | Tenerife’s 23 Locations Among Top 120 Most Sought After in Spain for Foreign Homebuyers
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The purchase of homes in Spain by foreigners is concentrated in the Mediterranean arc and in both archipelagos, where foreign demand accounts for more than 50% of the total interest in buying a house in over 100 coastal locations, according to Idealista.

Among them, there is a special interest from some foreigners in the municipalities of Roses (Girona), Calpe (Alicante) or Andratx (Balearic Islands), where foreign relative demand exceeds 65% of the total searches and interactions carried out on the Idealista real estate portal.

However, the province of Alicante is the Spanish province that brings together the highest number of destinations – up to 30 – where foreign demand interest exceeds 50% of the total demand seeking a home on the Idealista real estate portal.

Following Alicante, there is the Balearic Islands, with 28 locations that attract the interest of up to 67% of foreign demand. Areas such as Cala Ratjada or Canyamel in Mallorca, along with districts of prominent populations like Andratx, featuring Port d’Andratx or Es Camp de Mar, or Cala Murada in Manacor.

Still, over 60% of foreign interest in buying houses are in towns in the province of Santa Cruz de Tenerife, which in total presents 23 locations among the top 120 most sought after.

The majority are located on the island of Tenerife, such as Playa de Fañabé, Torviscas Bajo, or La Caleta in the municipality of Adeje, but also include the municipality of Vallehermoso on the island of La Gomera, or Barlovento on the island of La Palma.

Next is a three-way tie of prominent locations among the provinces of Girona, Malaga, and Las Palmas, all with 12 preferred destinations for foreigners, sparking interest above the national demand. Each representing preferred destinations for foreigners, such as the Costa Brava, the Costa del Sol, and the Canary Islands.

Following these, in Girona, districts such as Roses de Port Esportiu-Puig Rom-Canyelles, Santa Margarida and Salatar stand out above all others, along with the municipality of Empuriabrava, all with over 60% foreign demand.

Germans, Swedes, and Dutch are the Most Active Seekers

Visits from Germany are the most prominent among the 120 areas analysed, with Germans being the most interested nationality in buying in 55 of them, almost half, especially in the Balearic Islands and Canary Islands.

Sweden (21) is the next country that stands out from the list, showing great interest in Alicante, but also being the first country to demand housing in areas of Malaga. An interest shared with demand from the Netherlands, which in addition to focusing on Alicante, expands their interest radius in Malaga and Granada.

Another prominent nationality is France, being the most present in areas of Girona, while Italians prefer the Canary Islands as a destination. Finally, the British lead the highest foreign demand in areas of Manilva, Estepona, and Gualchos in Granada.

Additionally, demand from Poland has stood out in La Mata, Alicante, and the Bahia de Casares, while from Lithuania they have focused on the Acantilados de Los Gigantes in Tenerife; and the Norwegians, in Patalavaca, in the municipality of Mogán in Gran Canaria, where there is already a prominent Norwegian community.

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