New figures from the Spanish registration authority show that house prices in the country rose by 3.87 percent in Q3 and the number of housing transactions increased by 13.9 percent, compared to Q2. So far this year, prices have risen by a whopping 11.56 percent. The number of home purchases by Swedes is at a stable level, but several other countries are overtaking Sweden on the list of largest buying nations.

According to the registration authority RegistrarsNew report from November 14, 2024, 166,609 homes were sold in Spain in Q3, which is an increase of 13.9 % compared to Q2. House prices have increased clearly, + 3.87 % in the quarter compared to Q2, and + 11.56 % so far this year. From the bottom in 2014, prices in the Spanish housing market have risen by a whopping 80.06 %.

• The market in Spain as a whole is hot with clearly rising prices and many housing transactions. Demand from both Spaniards and foreign buyers is strong and supply is generally low. A low level of new production in recent years contributes to an imbalance between supply and demand and rising prices, says Martin Posch, business area manager for Fastighetsbyrån Utland.
• For us brokers, there is very tough competition for sales assignments right now. Some brokers are therefore marketing homes where they have not been assigned by the seller, which can lead to problems with liability. As a speculator, it is a good idea to ask whether the broker has an assignment agreement from the seller to avoid hassle, says Martin Posch, business area manager for Fastighetsbyrån Utland.

Sweden is falling behind – now the thirteenth largest purchasing nation
The number of purchases by Swedes was 605 during the third quarter, which is a small increase from 596 in Q2. Overall, however, Sweden continues to slip down the list of the largest purchasing nations. Sweden is now in thirteenth place when Russia has also overtaken Spain in the number of purchases. Historically large purchasing nations such as the UK, Germany and France have also reduced their share of foreign purchases clearly, while countries such as Poland, Russia and China have increased their shares.

• Historically, Swedes have been a very strong buying nation in Spain and have been among the five largest for periods. Now we have slipped significantly down that list. This is partly due to the Swedish economy, the krona exchange rate and the housing market in Sweden, and partly because other nationalities have increased their purchases in Spain. However, the interest in homes in the sun remains and we see great interest from Swedes. The conditions for us to climb again are good now that interest rates are being lowered, says Martin Posch.

According to the press release

Source: Collegio de Registradores & Consejo General del Notariado