US property purchases in Spain rise as Americans seek high-end homes
MADRID, April 9 (Reuters) – Home purchases in Spain by U.S. citizens rose 3 percent last year, even as total purchases abroad fell, with real estate agents citing concerns over President Donald Trump’s policies as one reason for the growth in U.S. demand.
In a market long dominated by Brits and northern Europeans seeking refuge from harsher climates on Spain’s sunny beaches and plains, American buyers have made a tangible entrance over the past decade.
Foreign buyers made about 19% of all Spanish home purchases in 2025, with Americans accounting for 2% of the total, according to data released Thursday by the General Council of Spanish Notaries. American buyers were particularly active in the high-end segment.
While Brits remain the largest group of foreign buyers, at around 8% of the total, their purchases have declined by 16% over the past six years, contrasting with a tripling of transactions by US buyers over the same period.
The increase in U.S. purchases in Spain comes at a time of growing discord between Washington and Madrid.
Left-wing Spanish Prime Minister Pedro Sanchez has become one of the most vocal Western critics of the Trump administration’s foreign policy, calling the war against Iran illegal and reckless and closing Spanish airspace to U.S. planes involved in the strikes. Trump has vowed to retaliate against Spain using tariffs.
Real estate experts have cited anecdotal evidence of buyers seeking a permanent escape or relief plan in the wake of Trump’s policies, including his crackdown on immigration, with Spain drawing particular interest from Spanish-speaking U.S. citizens of Latin American descent.
“The growth of the U.S. market is particularly significant because of its size,” said Fernando Rodriguez de Acuna, managing director of Madrid-based real estate analytics firm Acuna.
“Many Americans have recently chosen to settle in cities like Madrid or Valencia for political reasons and because they see them as safer places where they can accompany their children to school,” he said.
American buyers stood out in the premium market, paying an average of 3,501 euros per square meter ($380 per square foot), 29% more than the average paid by foreign buyers and almost double the amount spent by Spanish residents. Alongside Swedes and Germans, Americans rank among the top three groups of foreign buyers paying the highest prices.
Property developer GILMAR says American buyers became its biggest group of foreign clients in the popular sun and beach region of southern Spain last year, overtaking Britons.
Paloma Perez, CEO of luxury real estate company Dils Lucas Fox, said Americans have become the company’s second largest group of foreign clients, behind Britons, surpassing Germans. She explained that American buyers are mainly buying in the high-end segment, acquiring homes priced above 3 million euros.
A strong dollar was another factor driving U.S. buying, and analysts said underlying demand should be strong enough to maintain the upward trend even as the U.S. currency weakens against the euro.
“American clients come to Spain for the quality of life it offers, its safe environment and the opportunity to diversify their investments outside the United States, especially among those who do not agree with the current domestic political climate,” said Rebeca Caballero, director of GILMAR’s international department in Madrid.
(Reporting by Corina Pons; Editing by Toby Chopra)
By Corina Pons
