It is easy to understand why Spain might be a popular choice for property investment. Stunning weather, fantastic cities, excellent infrastructure and a position at the heart of Europe combine to make Spain an incredibly desirable location. Of course, just because it has the features to make it popular doesn\u2019t necessarily mean that it is a good investment. <\/p>\n
To understand how Spain has risen to once again become one of the most popular real estate investment opportunities in the world, it takes looking at the wide range of factors that has affected the market in recent years. <\/p>\n
If you are thinking of investing in Spanish property, now might be the perfect time. Here we take a look at why now might be ideal for you, and the issues that you need to consider when establishing whether you should invest or not. <\/p>\n
Growing demand for all types of property in Spain is causing prices to rise. For those interested in investing, this has shown just how buoyant the market is and has encouraged confidence. <\/p>\n
One of the driving factors has been the popularity of new build properties. On the Costa del Sol, the area saw a 26.2% rise in property sales in 2021<\/a> compared with 2020. Higher demand has naturally pushed up prices, with the Registrar's Association reporting an increase in house prices of 3.9% in the year. <\/p>\n It\u2019s not just the Costa del Sol that is experiencing rising prices. Major cities such as Madrid and Barcelona are also seeing tremendous year on year growth<\/a>. As the worst of the Covid-19 may be behind us, there is some feeling that popular cities that had seen fairly flat or dipping sales over the past year, are now likely to increase again.<\/p>\n Undoubtedly a key growth area for Spanish property has been the influx of foreign buyers. Locked out during the challenges of the pandemic, expats have once again shown their interest in buying in Spain. Of course, this has always been a popular market with foreign buyers, but with increasing numbers of \u2018digital nomads<\/a>\u2019 choosing Spain as their ideal place to work from home, it\u2019s not surprising that this growth is occurring. <\/p>\n \u201cWe have seen the market really pick up this year,\u201d says Adrian Prozhmi, Director of Promas Builders<\/a>, a multilingual construction company working on the Costa del Sol \u201cexpats haven\u2019t been put off buying in Spanish by Brexit or the pandemic. From our perspective, Spain is just as popular with foreign investors as it has ever been\u201d. <\/p>\n There had been some assumption that investment in Spanish property might be slow to grow following the pandemic. Undoubtedly it has been a challenging time for everyone, and there had been predictions that the country\u2019s real estate market might be relatively slow to recover. But this doesn't seem to have been the case at all. <\/p>\n Investors are ready to spend with the number of mortgages taken out having risen by 31.5% over the course of the year<\/a>. It is likely that many who were interested but unable to invest during the pandemic have now seen the strength of the market and have chosen to act quickly. <\/p>\nIt\u2019s still popular with expats<\/h3>\n
Investors are ready to spend money again<\/h3>\n
Desirable for many markets<\/h3>\n