After months of restrictions caused by the pandemic, Spain’s real estate sector began to recover.
In 2021, when the world epidemiological situation stabilized, Spanish housing began to attract new investors from abroad. The source http://spain-real.estate/ tells about the main reasons for buying real estate in Spain in 2021-2022.
Reasons to be optimistic
The National Statistical Office of Spain (NIE) confirms positive forecasts. NIE reports that, in October 2020, sales of housing and apartments stabilized at 37,000 transactions, which is significantly higher than the figures for April, May and June 2020, which did not exceed 27,300 transactions.
However, despite the improvement in 2021, the situation in the real estate market is still far from the indicators before COVID-19. Although it is too early to assess the situation, everything suggests that 2022 will be crucial for the real estate sector in Spain. Let’s find out the main reasons for purchasing housing in Spain in 2021-2022.
The main arguments for buying Spanish real estate
Experts describe five main reasons:
1. Affordable housing in central areas;
2. A broad range of search and purchase tools;
3. Profitable investments;
4. Low mortgage interest rates
5. Second homes in sparsely populated areas
Affordable housing in central areas
For those who prefer to live in the city center and at the same time have enough space, natural lighting, additional rooms that can be equipped for work – there are a lot of options on the secondary real estate market at affordable prices.
A broad range of search and purchase tools
Intelligent tools for market analysis, notification services, filters, and high-quality photos are just some of the latest tools in the Spanish real estate market that buyers from abroad can evaluate and buy housing online. These functions make the quality of housing search easy and improve it, and as for visualization tools, potential buyers can get a better idea of the property and avoid unnecessary trips.
According to the estimates of Banco de España (Bank of Spain) for the third quarter, real estate is one of the assets that generates significant returns and still has growth potential in 2022. Although yields have fallen because of the crisis and now have 5.6% compared to 6.8% before the pandemic, real estate investment in Spain is still an asset that will be profitable, especially when it comes to renting.
Low mortgage interest rates
The low interest rates offered by Spanish banks on mortgages will be maintained in 2022 and will continue to encourage wealthy buyers to buy real estate in Alicante and take out mortgages.
Second homes in sparsely populated areas
Current recommendations for social distancing and finding less crowded places have changed Spanish attitudes to choose a second home. To relax and work remotely, one can go to sparsely populated provinces and municipalities closer to nature where the infection rate is lower. These places are much more valuable now.
Buying a property in Spain
Are you looking for options for investing or living in Spain? Evaluate various offers at Spain-Real.Estate. You can consult the sales manager on the website.