02 December, 2022
Foreigners are buying More and More houses in Spain in 2022, Now is the perfect Time to Sell!
In 2022, you can be sure about one thing: Houses were sold this year, between January and June, 328,208 home sales were recorded, the most since 2008! An enormous record 24,000 foreign transactions were recorded in just three months, according to statistics from the Real Estate Registry of the College of Property Registrars.
But why was 2022 such a crazy year for the Spanish real estate market?
After the end of the Covid-19 crisis and the strict measures issued by the Spanish government, foreigners have been able to see Spain’s sunny and bright glow again and revive the property market. Thus, the purchase of houses by foreigners has reached the figures from before the pandemic again.
But it is also thanks to the expansion of telecommuting that foreigners are looking to get away and enjoy the climate and bucolic landscapes that Spain abounds. “This is a new and very promising phenomenon for the second home market in Spain and, if it consolidates and generates a ripple effect, the volume of buyers can increase considerably. We must remain vigilant,” says the CEO of a real estate group.
What is the profile of these foreign buyers?
“The most common profile is that of a buyer between 45 and 60 years old of multiple nationalities, from Germany, France, Holland, Belgium, the United States or Mexico, and looking for an apartment in the historic centre, in the coastal area or a huge villa. The average budget is about 850,000 euros,” says an expert.
Specifically, the nationalities that bought the most houses in Spain between April and June were the British (9.8%, 2,310), followed by the Germans (9.1%, 2,140), the French (6.6%, 1,560), the Moroccans (4.9%, 1,160), the Belgians (4.9%, 1,155), the Romanians (4.8%, 1,150), the Dutch (4.8%, 1,130) and the Italians (4.6%, 1,080). When analyzing the year-over-year changes in home sales results, we notice that with the exception of the British, the numbers are at their highest levels this year.
Digital nomads, a new expanding clientele to consider
Casamona was created in 2004, when the Internet was just starting to take off. But it is only since 2015 that a new clientele is developing in Spain: the Digital Nomads. Being able to telecommute from anywhere in the world, they are looking for a property to buy to work while getting a change of scenery and improving their productivity and mental health.
In the wake of the Covid-19 epidemic, the number of full-time telecommuters has exploded. By 2021, 6 out of 10 workers were telecommuting full- or part-time, according to a Trevor study. That’s why Casamona International has started to target this clientele and offer them properties in Barcelona. Indeed, Digital Nomads represent today 80% of our rental clientele, a target that should not be overlooked.
Our team at Casamona will be pleased to help you rent or sell your property to our international clientele, which is growing every year. We can also upgrade your property with our Interior Design service and our 3 experts, where we offer three different types of interior design.
Forecast to return to pre-covid values in 2023 in Spain
Experts expect these numbers to slow down due to the delay in the buying decision because of the current economic environment of uncertainty, with inflation at its highest in many key countries, the rise in interest rates on loans in the United Kingdom, the United States, the European Union as well as the economic consequences of the war in Ukraine. That’s why you need to sell now! And Casamona will be very happy to help you in the selling process of your property, thanks to our expertise since 2004 in the Spanish market.
Come and talk to our team at email@example.com, +34 931 309 307 or directly in our offices at Avinguda del Marquès de l’Argentera 7,1-2,El Born, 08003 Barcelona.