We know it’s March 2022, but you only get a real idea of how strong the Spanish Property Market is now, by taking a look back at a full analysis of 2021. It’s proved to be one of the best years for Spanish Property Sales since 2007.
According to official stats released by the Spanish Notaries association, not only were property sales in Spain up year on year by 17% in Quarter 4, but there were a total of 676,775 homes sold, which shows a 38% increase on 2020, and an 18% rise on 2019, which is extremely important given it was pre-pandemic. This quite clearly shows two things, firstly that Spanish homes are very much in demand right now, and secondly that the pandemic changed the way people are viewing their lifestyle.
In our previous blog entitled ‘Buying Spanish Property in February or March 2022 – Five Reasons for Why Now’ we spoke about an increase in remote working & people searching for a better work/life balance. Here at Simply Spanish Homes, we are experiencing this on a monthly basis, and the interest in Villas compared to Apartments has grown substantially, with a 38% increase on last year, and a 34% increase on 2019. Certainly, we have witnessed that buyers want more space both inside and outside, cleaner air (especially if they’ve been city living), a better climate, and cheaper lifestyle options such as eating out and family activities.
If we take a deeper look into the facts and figures we see that in the last quarter of 2021, Foreign buyers of Spanish Property were responsible for over 18,000 transactions which was an increase of 49% when compared to 2020. In Q4, the British hit top spot with 2,255 transactions, closely followed by the Germans and the French. Interest from Ireland, Holland, Norway, Poland and Sweden also rose significantly.
Across the course of the year, pretty much every region in Spain experienced a good growth in Sales, and the trend is continuing in 2022, though it’s yet to be seen whether there will be another increase when we look back on this year in 2023.
*Stats & Figures taken from original articles written by Spanish Property Insight