New data on foreign mortgages Spain-wide confirms what Tharros sees every week at the coast: German buyers now lead every other nationality applying for a non-resident mortgage, the British have slipped to second, and Swiss demand is rising fast. Here is what the numbers actually say, and what they mean for your own purchase.
Foreign Mortgages Spain: Who Is Applying
According to a mortgage-market report covering the second quarter of 2026, German citizens accounted for 15.6% of mortgage applications from non-residents buying a home in Spain in the second quarter of 2026 — five percentage points ahead of the British, who held second place.
| Rank | Nationality | Share of applications |
|---|---|---|
| 1 | Germany | 15.6% |
| 2 | United Kingdom | 10.6% |
| 3 | Switzerland | 9.4% |
| 4 | France | 9.1% |
| 5 | Netherlands | 8.3% |
| 6 | United States | 5.9% |
| 7 | Ireland | 4.5% |
| 8 | Belgium | 3.6% |
| 8 | Sweden | 3.6% |
| 10 | Italy | 2.3% |
Switzerland has climbed to third place, ahead of France and the Netherlands. Swiss applicants also report the highest average household income of any nationality in the ranking — more on that below.
Non-resident applications made up 3% of all mortgage demand on the platform in the quarter, against 81.8% for Spanish residents buying a primary home. It is a small slice of the overall market, but a highly concentrated one geographically and financially.
Where Foreign Buyers Are Applying
Demand from abroad is overwhelmingly coastal, and it does not track the same map as domestic demand.
| Region | Share of non-resident applications |
|---|---|
| Valencian Community | 32.3% |
| Andalusia | 19.9% |
| Catalonia | 14.0% |
| Madrid | 6.5% |
| Canary Islands | 6.3% |
| Balearic Islands | 5.8% |
| Murcia | 5.4% |
Spanish residents, by contrast, apply mostly in Madrid (16.7%) and Barcelona (13.1%). The takeaway for Tharros clients: the Valencian Community alone accounts for close to a third of all non-resident applications nationally, which matches what we see from our Valencia office day to day.
What Foreign Applicants Earn and Spend
The average purchase price sought by non-residents was €265,093 — 3.6% higher than a year earlier, and well above the national average of €207,569. Most applicants, though, are not chasing luxury property:
- Almost 70% of applications are for homes priced under €200,000.
- Only 2.7% of applications are for properties above €500,000.
- Average household income across all foreign applicants was €6,779 a month — roughly double the national average of €3,385.
Income varies a lot by nationality
| Nationality | Average monthly household income |
|---|---|
| Switzerland | €9,300+ |
| United States | €8,514 |
| United Kingdom | €6,977 |
| Ireland | €6,669 |
| Sweden | €6,601 |
| Belgium | €5,889 |
| France | €5,845 |
| Italy | €5,249 |
Germany and the Netherlands sit below €6,600 a month but are not broken out with an exact figure in the report. The average applicant is 44 years old, a little older than in previous quarters (41–43).
Buyers Who Actually Complete a Mortgage Look Different
The report also separates out non-residents who went on to complete a mortgage, and those figures run noticeably higher than the applicant averages above:
| Metric | All applicants | Buyers who completed a mortgage |
|---|---|---|
| Average household income / month | €6,779 | €10,320 |
| Average purchase price | €265,093 | €402,700 (approx.) |
| Average mortgage amount | — | €235,000 (approx.), up 15% year-on-year |
| Average age | 44 | 41 |
| Average loan-to-value (LTV) | 68% (all applications) | 62% |
The Spanish market allows non-residents to borrow up to 70% of a property’s value in most cases. Very few completed mortgages actually reach that ceiling — most buyers who complete a purchase put down a larger deposit than the maximum required, which lowers their average LTV to 62%.
Debt burden has also eased: mortgage repayments now account for 23% of income on average for all applicants, the lowest level in a year, and 24% for those who complete a purchase. Fixed-rate mortgages dominate, at 85% of completed transactions, with mixed-rate loans making up the rest and variable-rate loans barely used at all.
What This Means If You Are Planning to Buy
- You are not an outlier. If you are German, British, Swiss, French or Dutch and looking at the Valencian coast or Andalusia, you are following the exact pattern this data shows — not against it.
- Budget realistically. Almost 70% of non-resident applications are under €200,000, so a modest coastal apartment or townhouse is squarely the norm, not the exception.
- Expect to put down more than the minimum. Completed mortgages average 62% LTV, well under the 70% ceiling most non-residents are offered — lenders and buyers both tend to be conservative.
- Fixed-rate is the default choice. If you are unsure whether to fix or float, the data shows the overwhelming majority of non-residents who complete a purchase choose a fixed rate.
- Income documentation matters. With average completed-mortgage income at over €10,000 a month, lenders are clearly comfortable financing high earners from abroad — but that also means robust income proof is central to approval, whatever your nationality.
This article summarises third-party market data published as of September 22, 2026, and is general information, not financial advice. Figures are averages across a large applicant pool and will not match every individual case. Tharros Brokers is a mortgage introducer, not a lender; confirm your own borrowing capacity with a qualified advisor.
Foreign Mortgages Spain: Frequently Asked Questions
A Note on the Data
The figures in this article are drawn from a quarterly mortgage-market report covering applications and completions from non-resident buyers in Spain during the second quarter of 2026.