Our observations on the Spanish property market
Two main factors have affected people making decisions on buying in Spain recently:
- the effects of Brexit
- the arrival of the pandemic
Both raised questions about the short and long term property values in the minds of potential buyers and sellers.
The impact of Brexit is now understood and for those wanting a holiday home, it is small. For those wishing to retire, relocate or spend extended periods in the country, there are new factors to consider.
The pandemic, however, has halted plans for all but those brave enough to buy on the strength of a video tour. We are all hoping it’s influence will continue to reduce and we will be able to largely forget about it soon.
We travelled on business to Spain’s Costa Blanca earlier in the summer. It was a less crowded and quieter environment than normal in June. The majority of bars and restaurants were open and pleased to welcome us. The nationality mix was different than in normal times. Visitors from Scandinavia, Belgium and France exceeded those from the United Kingdom. Whilst it was noticeable how many Spanish tourists were around.
Our agents told us sales of properties had recovered significantly. However, buyers were mainly from continental Europe and elsewhere in Spain rather. There has been particular interested at the top and bottom of the market. Consequently, despite the absence of the British prices had held up well.
As we approach the end of summer and head to autumn, we are interested in your thoughts regarding buying a property in Spain?
- Has Brexit made you change your attitude to investing in a property in the EU Schengen countries?
- If so has this made you consider further afield?
- In light of the pandemic what is your attitude to travel? Are you cautious, desperate to go or anxious?
- What are the factors that govern your choice of country e.g. Accessibility – Transport – Climate – Health ?
- Is the lifestyle important. Do you prefer hectic, buzzy , chilled and relaxed or isolated?
- Is this the right time to make decisions for you?
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Categories: Living in Spain