Officials of Spain Property Guide share their insights on the property market in Spain right now.
Expat Info brings you all the latest information from Spain and speaks exclusively with local real estate agents to give you up to date property news.
- What is the current situation of the Spanish real estate market? Are you seeing any sign of recovery following COVID?
We are witnessing a genuine property boom for the first time, with prices growing steadily and steadily, based on inflation rather than bank overlending. Costa del Sol still has a lower cost of living than most other European coastal destinations, despite the increase in prices on almost every type of property on the coast.
- Do you notice any trends in the type of sales you are doing now?
Yes, a new breed of buyer has emerged, and it is propelling the high-end market, particularly the villa sector. It's a property boom, with high-end residences setting new sales records in terms of price per square metre.
- What's in store for the year ahead?
We've already increased our personnel, Covid is no longer on the back burner for our clients, and the market has rebounded, so we're hoping to expand even more in the coming year. We are delighted to witness Marbella and its environs setting new records!
- Is there a Brexit impact? Do fewer Brits buy houses now?
It hasn't had any impact; the Brits love Spain, which won't change. Unless people want to move to Spain permanently, it won't be an issue. Marbella has also diversified, with a rise in German, Dutch, and French buyers. As a result, the destination has once again become cosmopolitan.
- What areas would you recommend if you were looking for an investment property?
I would suggest any buying client or investor tick as many boxes as possible because the property remains highly saleable or profitable no matter the market conditions.
Sea/mountain views, a decent terrace size, and as near facilities as feasible are all checkboxes. It's also advantageous to be close to the beach.
Most individuals own a car on the seaside, so a 10-minute drive is often acceptable. Buying the worst house on the best street is usually a smart choice, albeit they are getting harder and harder to come by!
If I had only one message for your readers, it would be that this market is currently a seller's market. Vendors have the majority of control for the first time in ten years, and they are in the strongest position we've seen in a long time.
If you would like to sell, now is the moment without a doubt. You can find more information at www.spainrightnow.com