We’ve talked about this before and you might have seen the headlines … “Spain bans foreign buyers!” or “New rules to stop foreigners buying homes in Spain!”
And if you’ve been thinking about buying here, that probably gave you a bit of a jolt.
But let’s be clear: that’s not actually happening.
Yes, Spain’s Prime Minister Pedro Sánchez floated the idea of limiting or even banning non-EU, non-resident buyers. But no, it hasn’t been passed into law. And judging by the facts, it’s unlikely to go far at all.
Let’s break it down.
First off — who are we even talking about?
The proposal targeted non-EU, non-resident buyers … basically, people buying second homes or investment properties from outside the EU. So Brits post-Brexit, Americans, Norwegians, Swiss buyers, that sort of group.
In 2024, according to notary data, this group made up just 2.7% of all property purchases in Spain. That’s actually down from 2.9% in 2023.
In other words… this “problem” is shrinking.
The Numbers Don’t Add Up
When Sánchez first mentioned the idea, he claimed non-EU buyers made up a huge chunk of the market … 27,000 purchases in 2023.
Except… they didn’t.
Notary data shows the real number was 18,648. That’s around a third of all foreign buyer transactions — not half, like he suggested.
It’s not a small rounding error either … it’s an 8,000+ transaction gap. Which either means someone got their numbers badly wrong … or they were trying to make the issue sound bigger than it is.
A Headline Grabber, Not a Real Policy
Let’s be honest … this isn’t about solving Spain’s housing issues. It’s more about deflecting from them.
The 2023 Housing Law has been heavily criticised, and rather than deal with the fallout of that, it looks like the government is trying to blame foreign buyers for pushing up prices.
But if you’ve ever looked at the areas where most foreign non-residents buy … coastal resorts, tourist-heavy towns, countryside retreats … you’ll know they’re not exactly snapping up one-bed apartments in central Madrid.
Who’s Really Buying?
The bulk of these buyers are:
• British
• American
• Swiss
• Norwegian
They’re buying holiday homes. Not entry-level housing for local families. And as for groups like Moroccans or Colombians, the numbers are so small and spread out, it’s not even statistically significant.
So even if the ban went ahead … which, again, it hasn’t … it wouldn’t do much to change housing affordability.
What Would Happen If They Did Ban It?
Honestly? It’d do more harm than good.
• Local economies, particularly in places like the Costa Blanca, Murcia, and the Canaries, would take a hit.
• Construction would slow down.
• Tourism-related income would drop.
• And foreign buyers might just go elsewhere … Portugal, Italy, Greece…
When you start making people feel like they’re not welcome, they often stop showing up.
So What Now?
We’ll get another set of data from the notaries in October 2025, which will show how this trend is moving. But if the current direction is anything to go by, we’ll probably see even fewer non-EU buyers by then.
For now, just know this: there’s no law. Nothing’s changed. And the data doesn’t back up the panic.
If you’re a buyer … especially a non-EU one … don’t let headlines put you off. Let the facts guide you, not the politics.
