Foreign Buyers in Andalusia Down 12.7%: What the Notaries’ Data Means
Andalusia property update · 18 October 2026
Short answer: According to Spain’s notaries, foreign buyers completed 11,807 free-market home purchases in Andalusia in the first half of 2026, 12.7% fewer than a year earlier, while the average price they paid rose 11.5% to €2,806 per square metre. Fewer foreign buyers does not mean cheaper homes: on the Costa del Sol, buyers should still expect firm prices and should not skip legal checks to save time.
Key facts at a glance
- Who: Consejo General del Notariado, through its statistics centre (CIEN), published 15 October 2026.
- What: free-market home purchases by foreign nationals, January to June 2026.
- Where: Andalusia, Spain’s second region for foreign purchases after the Valencian Community.
- Figures: 11,807 purchases (−12.7%); average €2,806/m² (+11.5%); 5,800 by non-residents and 6,007 by foreigners resident in Spain.
- Nationally: 62,327 foreign purchases (−13.0%), 18.3% of all home sales.
- Not confirmed: figures for Málaga province, Marbella or individual towns were not included in the regional summaries we reviewed.
What the notaries reported
The Consejo General del Notariado publishes half-yearly data on home purchases by foreign nationals, drawn from deeds signed before Spanish notaries. Its statistics are available through the Centro de Información Estadística del Notariado. The release for the first half of 2026, published on 15 October, shows the steepest first-half fall in foreign purchases since 2020.
For Andalusia, foreign buyers signed 11,807 purchases, 1,713 fewer than in the first half of 2025 and the lowest first-half figure since 2021. The region accounted for almost 19% of all foreign purchases in Spain. Non-resident buyers (those not living in Spain) signed 5,800 purchases, 49.1% of the regional total and 25.3% of all non-resident purchases nationally.
Home purchases by foreign buyers, first half of 2026
Number of free-market home purchases, top three regions
Source: Consejo General del Notariado (CIEN), data for January–June 2026, published 15 October 2026.
In text form: the Valencian Community recorded 17,446 foreign purchases, Andalusia 11,807 and Catalonia 10,293 in the first half of 2026.
What it means for buyers in Marbella and Málaga
The headline is a fall in volume, not in price. The average price paid by foreign buyers in Andalusia rose faster than the national average, so the data do not support the idea that the Costa del Sol has become a buyer’s market. Each property still needs to be priced on its own evidence.
| Average price paid by foreign buyers | H1 2025 | H1 2026 | Change |
|---|---|---|---|
| Andalusia | €2,518/m² | €2,806/m² | +11.5% |
| Spain | — | €2,644/m² | +9.4% |
Regional averages mix very different markets: a Marbella Golden Mile villa and an inland apartment sit in the same figure. Do not use them to judge a specific asking price.
What to check before you commit
| Check | Why it matters now |
|---|---|
| Comparable sales, not listings | Rising averages can hide wide gaps between asking and agreed prices. |
| Cadastral reference value | Transfer tax is assessed on the higher of price and reference value. |
| Planning status of the property | Marbella has a long history of planning irregularities on some plots. |
| Tourist licence (VFT), if you plan to let | Málaga city has suspended new tourist homes in much of the municipality. |
| Deposit contract terms | Arras clauses decide what you lose if the sale falls through. |
Legal context
Notarial statistics count deeds signed, so they lag behind market activity by weeks or months. They classify buyers by nationality and residence, not by where funds come from. Royal Decree-law 29/2026, the latest state housing decree, contains no tax specific to non-resident buyers; its tourist-let VAT measure is pending validation by Congress.
Read the data carefully. These are regional figures for the first half of 2026. They are not a forecast and do not show prices for Marbella, Málaga city or any specific development.
Next steps
- Ask your lawyer for a nota simple and cadastral check before signing any reservation.
- Compare the asking price with the cadastral reference value.
- Confirm planning and licence status with the town hall.
- Budget purchase taxes and fees on the higher of price and reference value.
Frequently asked questions
Are foreign buyers leaving Andalusia?
Fewer foreign buyers signed purchases in the first half of 2026 (11,807, down 12.7%), but Andalusia remained Spain’s second region for foreign purchases.
Are Costa del Sol prices falling?
The notaries’ data show the opposite for foreign buyers: the average price paid in Andalusia rose 11.5% to €2,806 per square metre.
Is there a separate figure for Marbella or Málaga?
Not in the regional summaries reviewed for this update. Ask a local lawyer or valuer for comparable sales in the specific area.
Has Spain introduced a tax on non-resident buyers?
Royal Decree-law 29/2026 contains no tax specific to non-resident buyers. Check the position again before you sign.
Related guides
Buying on the Costa del Sol?
Compare independent, English-speaking property lawyers in Marbella and Málaga.
Source and scope: Consejo General del Notariado, Centro de Información Estadística del Notariado (CIEN), foreign home purchases January–June 2026, published 15 October 2026; Royal Decree-law 29/2026 (BOE-A-2026-20823, 7 October 2026). Checked on 18 October 2026. General information, not individual legal advice.
Sophie Gutenberg is a legal content specialist focused on Spanish property law, real estate transactions, conveyancing, due diligence and tax issues affecting international property buyers in Spain. She works alongside qualified Spanish property lawyers .
