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Pandemic hits the Spanish real estate market during 2020

Pandemic hits the Spanish real estate market during 2020

Due to the pandemic and travel restrictions, foreigners have bought fewer properties in Spain in the third quarter of 2020. There is talk of a decrease in Spanish real estate of more than 20%. It is not only the corona pandemic that has caused this decrease, but also the uncertainties surrounding the Brexit, as British home buyers in particular have fallen sharply but are still the largest group of buyers. 

Immowi is an important player in the European real estate market. A lot of Spanish real estate is marketed using our algorithm and the MyImmowi platform. That is why we are always on top of the situation.

In general

Between the beginning of January and the end of September 2020, 36.850 Spanish real estate was sold to foreigners, according to preliminary figures from the Colegio de Registradores. By comparison, in 2019, 47.150 homes were sold in the first nine months of that year alone.

During the first three months of 2020, 14.850 homes were still sold to foreigners, a drop of 7%. But between April and June, in the middle of the first corona wave with lockdowns, emergencies etc., only 8.000 homes were bought by foreigners, a drop of 46%.

After the state of emergency was lifted and the borders reopened, home sales to foreigners also rose. In the third quarter, these sales increased by 75% to about 14.000 homes sold which is, however, still 7,5% less than in the same period in 2019.

The final figures for the whole of 2020 will be announced by the Colegio de Registradores later this year, but the conclusion can already be drawn that British house buyers in particular have fallen sharply. But the British are still the largest group of foreign house buyers for the Spanish real estate.

First quarter 2020

In the first quarter, the British bought 1.900 homes, which is 13.65% of all foreign sales. After the British, the French with 8,07%, Germans with 7,29%, Moroccans with 6,28% and Belgians with 5,88% are on the list. The Dutch are on the list with a share of 2,85% in the first quarter.

Second quarter 2020

In the second quarter, the British bought again 12,25% of the Spanish real estate sales followed by the Germans with 7,18%, Romanians with 6,90%, French with 6,68%, Moroccans with 6,40% and Belgians with 5,78%. The Dutch accounted for 3,52% of home sales.

Third quarter 2020

In the third quarter, the British are again on top of the list with 13% of the total number of homes sold to foreigners followed by the French with 8,05%, Germans with 7,65%, Moroccans with 6,41% and Belgians with 6,26%. The Dutch are on the list with a share of 3,21% in the third quarter. 


If we look at the report for the third quarter of 2020 and the autonomous regions where foreigners bought the most Spanish real estate, the Balearic Islands are on top with 27,14% of total foreign home sales.

After the Balearic Islands, the Canary Islands are on the list with a share of 26,33% followed by the Valencia region with 24,11%, Murcia with 17,49%, Andalusia with 12,31%, Catalonia with 12,12%. La Rioja with 5,37% and Aragón with 5,02%.

Looking for foreign buyers in Spain? Immowi looks for your ideal customer around the world. British, French, Belgian, … wherever you want your leads to come from, we generate the best for you and your business. Machine learning finds the perfect match between your projects’ characteristics and our customers’ preferences. We link them to your MyImmowi account, where you can manage your projects, leads and budget. Let’s have a talk and see how we can help you boost conversion.

Immowi Assistance

There is often an invisible wall between marketing and sales. Companies invest in marketing campaigns to generate leads, but do not take the right actions to turn those leads into customers. To remedy this shortcoming, the strategic online lead generator Immowi is adding a new extension: Immowi Assistance. Until now, we delivered high quality leads thanks to online marketing, but with Immowi Assistance we significantly increase the chance of these leads actually becoming customers. Thanks to this approach, companies that do business with us know how to convert their leads and have a platform where the leads are offered on a silver platter, ready to be converted into valuable customers.
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We could make it easy on ourselves and be happy with just bringing in high-quality leads. But it’s frustrating when your hard work doesn’t follow through. Immowi’s great strength has always been that we are very results-oriented. Many marketers have a reputation for selling hot air, because they can’t substantiate their returns. We did that right from the start, and that’s why we were able to grow from one to more than 10 full-time employees in a very short period of time.
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Sales people like to sell, but they thoroughly hate administration. They keep track of their leads, their appointments and their deals in Excel, or even with pen and paper. They only keep track of their own prospects. Many companies do not have a sales pipeline. So, you risk sending a quotation to a customer after a successful meeting, but ultimately missing the customer because you forgot to follow up on the quotation. You’re almost done, but because of the lack of a decent digital process you miss out on a customer – and therefore also on turnover.
We pick the low-hanging fruit for our customers. We automate the entire process from lead to customer, and put it into one clear dashboard. This way, as a business manager, you can follow everything from A to Z. How many leads does a campaign produce? How many of those leads drop out along the way? How many become customers? What stage is each lead in? The personnel cost of sales people is very high in many companies. If sales people do not lose time calling leads and recording appointments – which we do – they can focus on what they are really good at. And that is still selling, closing deals.
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We bring marketing and sales under one roof. That way, you can make your campaigns much more effective. Imagine that your campaigns for one brand on Facebook and on Google both generate 10 leads, but that 8 of those 10 Facebook leads become customers and only 2 of those 10 Google leads. If you’re purely marketing, you won’t get that information and so you’ll continue to put the same amount of effort into Facebook and Google.
If you also include the sales part and you do get that information, then you can turn the right buttons, redirect your budgets and generate much more turnover.