The last 15 months have been somewhat trying for not just Spain, but the whole world. With restrictions on movement, additional costs and the worst of all, loss of loved ones, it is good to finally see some positive steps forward in our return to normality.
Business as usual. Since lockdown, building sites across Spain were in most cases, lucky to be able to continue working due to being outside and where social distancing was possible. All of which was great news for the property market, as it created a new type of buyer, the virtual buyer!
Virtual buying is not something we would recommend, however, for those that are familiar with the area they are looking at, buying off-plan is a bit like virtual buying, so what’s changed I hear you ask. Well, we have seen clients from all over Europe purchase property without even visiting the country, let alone the property! With the rise in video viewings via Whatsapp and Skype, it has become the only way whilst restrictions were in place. After all, if they see the property they have been waiting for, buyers have jumped at the chance of sealing a deal based on a single virtual viewing. Thankfully, this is now less frequent, as buyers return to Spain in person this week.
Who’s buying in this uncertain economy? Well, we have seen a huge uptake in enquiries across Spain from Scandinavians, Germans, Polish and yes, still the British! Brexit has not deterred those who long for a warm retirement or winter sun! Then there is the digital nomads, those who can work from anywhere, as long as they have internet are also taking this opportunity to change their work/life balance. Let’s face it, raining cold days vs dry sunny ones…
Where are the hot property areas of the moment? Currently we have sales going through in larger numbers across Valencia, Murcia, Alicante, Costa del Sol, Almeria and Cadiz. Whilst mostly coastal, we have had a fair share of inland/city purchases too! That’s the beauty of Spain. It can offer more than just a two week vacation, it can change your whole life, from the usual sandwich at your desk then back on the train to watching the sunsets, walking in remote hills or a meeting at a tapas bar to seal your next deal!
Why do people buy in Spain? Many of our clients are purchasing this year, as the pandemic has made them look at life differently. If you get locked down again, where would you rather be? Buyers purchase for a number of reasons, whilst investment is still a key part, the most recent buyers are for second homes for summer holidays or winter getaways. If they are unable to relocate now due to work, this is their longer term goal once they retire.
Explore your opportunities. If you have been considering a purchase of property in Spain, regardless of whether it’s up north, down south or even the islands, we can help! Why not get in touch so we can work through some figures and give you an idea of what your options are? It costs nothing, just contact us online and Alison will call or email you back to arrange a chat.
Mortgage Matters Spain Team.