🇪🇸Foreign buyers are purchasing fewer properties in Spain but paying record prices

➡️ According to data from Spain’s General Council of Notaries, foreign nationals purchased 62,327 residential properties in the first six months of 2026, down 13% from the same period in 2025. This represents the steepest decline in international buyer activity since the COVID-19 pandemic.

➡️ Foreign buyers accounted for 18.3% of all residential property transactions, compared with 19.2% in 2025 and 20.3% in 2024.
While the number of purchases has fallen, the prices paid by foreign buyers have reached an all-time high. The average price climbed to €2,644 per square metre, up 9.4% year-on-year, highlighting the growing cost of entering Spain’s property market.

🟧Who’s buying property in Spain?
For the first time among residents? Moroccan nationals have become the largest group of foreign property buyers in Spain, accounting for 8% of all transactions involving international purchasers. Their main focus is affordable housing, with an average purchase price of just €801 per square metre.

Other leading nationalities include:
🇬🇧 British buyers — 7.3%
🇮🇹 Italian buyers — 6.6%
🇷🇴 Romanian buyers — 6.4%
🇩🇪 German buyers — 6.3%

🟧 What about non-resident buyers?
The market is led by purchasers from the Netherlands (12.6%), followed by Germany (11.8%) and the United Kingdom (10.4%).

Key market trends

🔸Non-resident buyers are paying record prices. Foreign buyers who don’t live in Spain paid an average of €3,493 per m², well above the €2,102 paid by foreign residents and €1,971 by Spanish buyers.
🔸 Americans are spending the most. Buyers from the US (€3,948/m²) paid the highest prices, followed by those from Sweden (€3,839/m²), Germany (€3,763/m²) and Switzerland (€3,760/m²).
🔸Demand is falling sharply among major buyer groups. Purchases by Russians (-26.2%), Chinese buyers (-26.1%), Americans (-22%) and Britons (-21%) all dropped by more than a fifth. Venezuelans (+10.2%) and Colombians (+7.4%) were the only nationalities to record an increase.
🔸Most regions are seeing fewer sales. Only Castilla-La Mancha (+4.4%) and Extremadura (+3.3%) bucked the trend. The biggest declines were seen in Cantabria (-20.5%), the Canary Islands (-20.3%), Madrid (-19.7%) and the Balearic Islands (-15.4%).

#spain

🇨🇾 Buying Property in Cyprus: How to Qualify for 5% VAT Instead of 19%

The standard VAT rate on new-build properties in Cyprus is 19%, but buyers purchasing a home as their primary and permanent residence may qualify for a reduced rate of 5%.
The rules have changed, and the transitional period ends on 31 December 2026.

 
🟧 Which properties qualify for 5% VAT?
Under the new rules, the property must meet three conditions:
🔸 Use: The buyer's primary and permanent residence, not a rental investment.
🔸 Built area: Up to 130 m².
🔸 Price: No more than €350,000.

📌 Looking for a suitable property? There are over 1,000 listings on Prian matching these criteria.

What if the property is larger or more expensive?

For homes measuring 130–190 m² and costing up to €475,000, the additional floor area is taxed at the standard 19% rate.
Properties exceeding 190 m² or €475,000 do not qualify for the reduced VAT rate.
Some buyers may still benefit from the previous rules if their planning permission application was submitted between early June and 31 October 2023, even if construction finishes years later.

The 5% VAT rate comes with conditions

➡️ Cyprus tax authorities are checking whether buyers who received the reduced rate genuinely use their properties as their main residence.

➡️ In June 2025, the authorities announced inspections and encouraged owners to voluntarily correct any non-compliance.

➡️ If the property was never used as declared, or the owner stops living there before the 10-year period expires, the VAT saving may have to be repaid.

Planning to buy-to-let? Factor the full 19% VAT into your investment budget from day one.

#cyprus

🇹🇭 Can Thai authorities seize your property?

🟠 Yes, if your purchase involves an illegal ownership structure designed to bypass Thai law.
Foreigners can generally buy condominium units in Thailand, subject to legal restrictions. Land ownership, however, is a different matter: foreign nationals are generally prohibited from owning land outright and must typically rely on leasehold arrangements.
Some investors attempt to get around these rules by using Thai individuals or companies as nominees.

How do these schemes work?
🔸 Nominee owners. Land is registered in a Thai citizen's name, although a foreign buyer has paid for it and effectively controls and uses the property.
🔸 Nominee companies. A Thai company is set up with a misleading shareholding structure. Thai shareholders exist largely on paper, while the foreign investor retains actual control over the company and its land.

These arrangements have been widespread for years. But after a long period of relatively limited enforcement, Thai authorities have intensified their crackdown over the past 12–18 months.
Last week, the government announced an investigation into 2,360 land plots worth a combined $417 million, potentially linked to unlawful foreign ownership.
The investigation also involves 1,397 suspected nominee owners.
Thailand's Prime Minister has instructed officials to establish who ultimately controls the land and benefits from it. Where violations are confirmed, the properties may be ordered to be sold.

What should property buyers and owners do?

🟧 Buying a villa? Check the legal status of both the land and the building, including all relevant ownership and leasehold rights.
🟧 Buying through a Thai company? Have an independent lawyer review its shareholding structure, corporate documents and compliance with local legislation.
🟧 Already own a property? If the land is held through Thai nominees, consider arranging a legal audit to identify potential risks.

📌 Importantly, the ownership rules themselves have not changed, but enforcement has become stricter.

Explore leasehold and freehold properties in Thailand in our listings.

#thailand

🇬🇷 Greece warns Golden Visa Holders of residency revocation for rule violations

What exactly counts as breaking the rules?

🔸 First, artificially reducing the actual purchase price. For example, an investor pays the minimum required €250,000 but subsequently receives part of the money back through a separate arrangement.
🔸 Second, renting out a Golden Visa property on a short-term basis, which is STRICTLY PROHIBITED. Even indirect arrangements involving subletting are not permitted.
Under Greek law, a rental or sublease is considered short-term if it lasts fewer than 60 days and includes no services beyond accommodation and bed linen. It makes NO difference whether the property is advertised on an online booking platform.

What penalties could investors face?

Revocation of their residence permits and, for property owners or leaseholders who breach the rental restrictions, a €50,000 fine.

That was the warning issued this week by Greek Migration Minister Thanos Plevris.
Although no official figures on residence permit revocations have been published, Greek authorities have repeatedly warned of stricter enforcement of the Golden Visa program.

 
So how serious is the risk of losing residency this time?

Natalia Tsiro Rouva of Hellas Consult Solutions shares her perspective:

"These warnings should not be underestimated. Such announcements usually mean that concrete measures are already in preparation.
The authorities have recently taken a tougher stance, partly following several cases involving Turkish investors who used cashback arrangements to recover part of their property purchase price, and in some cases as much as €50,000. These schemes came to light.
As a result, if a seller transfers a relatively large sum of money shortly after a transaction, it is now likely to raise suspicions and trigger an investigation.
So where can investors legitimately save money? One option is the transaction costs, which do not count towards the minimum Golden Visa investment.
A third party can cover these expenses on the buyer's behalf. Such an arrangement with the seller does not breach the program’s rules and can be negotiated in advance."

📌 And what about rental restrictions?

Owners who purchased property under the programme after 2024 can still rent it out ON A LONG-TERM BASIS.

📌 So, if you're choosing a property with rental income in mind, it's worth focusing on the needs of long-term tenants, particularly Greek residents themselves.

#greece