The main tourist areas of Spain have begun a frank upturn that is already on track to reach cruising speed. More homes are sold, the price goes up and the expectations are positive.
The vacation home is back in demand. Foreign investors and Spanish investors looking for profitability are pulling the second home market, so that 56% of coastal areas are already recovering, according to a recent Tinsa report. While 28.1% of the main beach towns are close to touching ground and only 15.8% are still immersed in the adjustment phase.
The strength of foreign demand is fundamental in the coastal market. The fourth quarter of last year closed with the largest percentage of purchases by foreigners in the year, with 13.57% of the total, giving rise to the third largest result of the entire historical series. Something less than 12,700 purchases of housing corresponded to foreigners.
The breakdown by nationalities is maintained, but it is necessary to emphasize the decrease of the British demand, making evident the effect Brexit. Despite being the first nationality, this quarter with 16.4% (a year ago was 24%). The remaining nationalities of the leading group were Germans (9.2%), French (8.5%), Swedes (6.4%), Belgians (6.2%) and Italians (5.7%).
At Complete Spanish Property we try to make your approach to the Spanish real estate market as smooth as possible. Our advice is to listen to the needs and requirements you may have. If you are considering buying a property on Costa Blanca or Orihuela Costa, check out our portfolio of properties. We are sure we will have the property you are looking for.
Contact Complete Spanish Property and soon you will be enjoying your dream home in a wonderful place to enjoy life and feel energized and rejuvenated.
