Spain’s Holiday Season Sees a Surge in Travel
The holiday season in Spain, starting with Easter, witnesses the highest number of trips to holiday destinations or second homes. While cultural tourism hotspots like Madrid, Barcelona, and Seville remain popular, there’s a noticeable resurgence in the demand for second homes along the Spanish coast, post-pandemic. This trend is observed among both Spanish locals and foreign visitors.
Increasing Demand for Second Homes in Spain
According to the Comprarcasa real estate network, there’s been a 50% increase in the demand for second homes for private use in Spain. This surge began in mid-February, coinciding with the reopening of hotels and the revival of tourism, particularly along the Spanish Costas. This trend is expected to continue until December 2022, marking a recovery year after the inability to finalize transactions in 2021.
The Costa Blanca, especially Benidorm, is witnessing a significant increase in demand for second homes. The Comprarcasa network reports a doubling of monthly transactions compared to 2021. Other areas experiencing high demand include Torrevieja, Santa Pola, and the Costa del Sol, with Marbella, the Málaga coast, and Benalmádena leading the way.
Buyers: Aged 55-65 with Savings
While the demand for second homes has doubled, Comprarcasa highlights that the major surge is in second homes for personal use. The typical buyer profile is mature, aged between 55 and 65, purchasing property with their savings or seeking financing to supplement their savings. These buyers are primarily from Madrid, the Basque Country, and Zaragoza.
Additionally, there’s a noticeable increase in transactions from buyers in Seville, who prefer the areas of Cadiz and Huelva, and those from Cordoba, who favor Malaga and Fuengirola.
Foreign Buyers in Spain
Comprarcasa has also analyzed the demand from foreign buyers on the Spanish coast. British buyers continue to show high interest, primarily on the Costa del Sol, while German buyers prefer southern Andalusia. French buyers favor Costa Brava locations like Roses and L’Escala.
Interestingly, there’s been an increase in interest from Romanian and Ukrainian citizens, particularly in Malaga and Benalmadena, following the cancellation of the Golden Visa.
Investing in a Second Home in Spain: A Profitable Venture
Real estate has always been a popular choice among private investors in Spain. Buying a property to rent it out is a common investment, yielding an annual return of between 5 and 7%. Comprarcasa also points to a surge in purchases of properties in need of renovation, which are exempt from the Property Transfer Tax (ITP) in some communities and offer short-term returns of between 10 and 15%.
Property for Sale in Spain
If you’re considering buying a property on the Spanish coast, idealista offers a wide range of properties across the country, including popular destinations with expats and foreigners. These include properties for sale on the Costa del Sol, Marbella, Malaga, Alicante, Benidorm, Murcia, Valencia, Costa Blanca, and Costa Brava.
