Sales Of Spanish Property To Non-Resident Foreigners ‘Up By More Than 50% In 2021’
by Liz Seyi Digital marketing managerThe
coronavirus pandemic of the last few years has had huge implications for the
property market in sought-after parts of Spain such as Andalucia – but now, it
seems that the ‘bounce back’ process is in full swing.
Although
2021 was by no means a year when most of us were seeing the back of the
COVID-19 crisis, it was nonetheless a time of strong recovery for the Spanish
property sector, with the number of properties purchased by non-resident
foreigners increasing by a whopping 51.17%.
This
big rise produced a total of 43,827 transactions involving such non-resident
property buyers over the year. And as of the fourth quarter of 2021, foreigners
– encompassing both residents and non-residents – represented 12.61% of all
homebuyers in Spain, according to the Real Estate Registry Statistics of the
College of Registrars.
Andalucia
still proving its worth as an investment magnet
When
they are looking to purchase a home in Spain, many foreigners tend to gravitate
towards the Andalucia region, and we can hardly blame them. With Andalucia’s
property market and tourism sector both seeing major revivals lately, now might
be the perfect time for you to make your Sotogrande property purchase.
Currently,
it is the British who are most strongly represented among foreign homebuyers in
Spain, making up 12.42% of transactions for all foreigners. This is
particularly impressive given earlier concerns that the UK’s departure from the
EU might have the effect of deterring some prospective buyers of Spanish
property, with the General Council of the Official College of Real Estate
Agents (COAPI) in Spain now declaring that “the British market has fully
recovered”.
Real
climate and lifestyle benefits
The
general climate in Spain is ideal for people of almost all preferences, but the
coasts of Andalucia have the best winter temperatures on the European mainland,
which has helped make it the number one tourist region within
Spain.
Looking
at heritage and culture, Andalucia has the highest number of recognised UNESCO
World Heritage Sites within Spain and is considered a regional hotspot for
tourists, second home owners and residents alike.
The
quality of life in Spain is of such a high level that millions of foreign
second home owners and permanent residents have chosen Spain over other
European countries. The pandemic has done nothing to dissuade millions of
foreign property buyers from acquiring a home in Andalucia.
This
year is going to be an interesting one in terms of the Spanish property market.
Foreign buyers are making a major contribution to the recovery of the property
market, and here at BM Sotogrande, we certainly expect continued strong demand
for Sotogrande
property in 2022.
So, what are you waiting for? Don’t miss out in the current exciting market! Get in touch with the BM Sotogrande teamtoday for assistance with your own next moves in the property market in this part of the Costa del Sol.
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Created on Oct 6th 2022 00:39. Viewed 129 times.