Foreign nationals continue to demonstrate strong interest in purchasing property in Spain. According to the latest notary data, more than 70,000 purchase-and-sale transactions were completed by foreigners in the first half of 2025, representing 19.3% of the total market activity.
Record Prices Paid by Foreign Buyers
Foreign buyers are paying unprecedented prices for residential properties. The average price reached €2,417 per square meter, marking a 7.6% increase compared to the same period last year. Among the top foreign buyers—Britons, Moroccans, and Germans—the Chinese stand out for paying the highest prices since the start of 2025.
Chinese Buyers: Resident vs. Non-Resident Purchasing Patterns
Chinese buyers who do not reside in Spain purchased 148 residential properties from January to June 2025, paying an average of €4,116 per square meter. This represents the highest half-year average price and the second-largest amount paid by non-resident Chinese buyers since records began. However, as of April 2025, Spain ceased issuing residence permits to non-EU non-residents based on property purchases exceeding €500,000 under the “Golden Visa” program, which was active from 2013 to 2025.
Conversely, Chinese residents in Spain paid significantly less, averaging €2,081 per square meter. Despite this lower figure, it is the highest price paid by resident Chinese buyers since the 2008 housing bubble. Moreover, they set a new record by acquiring over 2,420 properties within six months.
Demand Insights from Idealista
Idealista analyzed Chinese buyer preferences by examining portal visits in Chinese relative to total foreign-language visits. Housing searches by Chinese users in 2025 (up to Q3) remained stable compared to 2024. Notably, demand in regions with average household incomes up to €30,000 per year increased, with Mandarin-language visits accounting for 51.1% of Chinese searches—surpassing half of total Chinese demand for the first time.
Interest declined slightly in regions with incomes between €30,000 and €50,000 (down to 43.4%) and in areas exceeding €50,000 (down to 5.5%). The peak demand for high-income regions (6.4%) was recorded in 2023. Overall, Asian buyers tend to favor large cities over coastal or suburban areas.
Madrid: High-Income Districts and Chinese Buyer Demand
In Madrid, Chinese buyers showed interest in nearly 20 districts with average incomes above €50,000 per year. Key areas attracting 5% of total foreign demand from non-resident Chinese include:
- Peñagrande (€5,016/m2) and La Paz (€5,195/m2) in Fuencarral;
- Valdebebas – Valdefuentes (€5,351/m2) in Hortaleza;
- Salvador (€6,224/m2) in San Blas.
In other affluent Madrid neighborhoods such as Almagro (Chamberí), Recoletos, and Castellana (Salamanca), where resale prices exceed €10,000 per square meter, Chinese buyer interest is more modest, ranging from 1% to 2%.
Rising Interest in Madrid Suburbs
Outside central Madrid, Chinese buyer interest grows significantly. Boadilla del Monte stands out, with nearly 17% of search queries in Chinese. Popular neighborhoods include:
- El Olivar de Mirabal (23%)
- Sector B (19.7%)
- Viñas Viejas (19.5%)
- Parque Boadilla (18.5%)
Housing prices in these areas can exceed €3,500 per square meter.
Majadahonda is another suburb attracting Chinese buyers, especially in Los Satélites – Rosa Martín, where 20% of searches are in Chinese. Other favored areas include the northern sector (8%) and Carretera del Plantío (6%), with average prices above €4,000 per square meter.
In Pozuelo de Alarcón, interest centers on Montealina (14.8%) and La Cabaña (10%), where prices surpass €4,600 per square meter. Las Rozas also draws attention, particularly Monte Rozas (9.5%) and El Pinar-Punta Galea (8.4%), with prices above €3,000 per square meter. Alcobendas-Norte (over €4,880/m2) sees 8.7% Chinese interest, and Arroyo de la Vega in La Moraleja (above €5,200/m2) attracts 9.5%.
Barcelona and Surrounding Areas
Barcelona has fewer districts with household incomes exceeding €50,000 annually. Among them, Sarrià-Sant Gervasi stands out, with an average price of €6,661 per square meter and Chinese demand exceeding 2%.
In the prestigious Pedralbes district (€7,999/m2), Chinese buyer interest reaches 3%. Similar figures are seen in Diagonal Mar, Front Marítim del Poblenou (€9,954/m2), and L’Antiga Esquerra (€6,739/m2).
Outside Barcelona, Chinese buyers show strong interest in Teià and the Serraparera area of Cerdanyola del Vallès. In Teià (€3,316/m2), Chinese searches account for 4.4% of foreign demand, while in Serraparera (€3,349/m2), this rises to 6.7%.