Galicia's favourable weather conditions, with mild winters and balmy summers, are driving a growing demand for property in the region. According to luxury real estate specialist Lucas Fox, this trend is reflected in international, national and local buyers.
Rafael Rosendo, director of Lucas Fox in Galicia, says that the autonomous community is becoming an attractive climate haven. "Galicia is being increasingly valued for its environmental conditions. We have noticed a significant increase in demand for homes from international buyers, from other parts of Spain and also from locals looking for a second home here," he explains.
Areas of greatest interest are in the south of the region, especially around Pontevedra and Vigo, known as the Rías Baixas. Buyers prefer properties close to the coast, but no further inland than 20 kilometres, striking the perfect balance between rural surroundings and being close to the sea.
Most sought-after properties
Traditional Galician-style properties are the most popular. They tend to be spacious homes, with large plots ranging from 3,000 m2 to two hectares, guaranteeing privacy. Prices for these properties range from €400,000 to €800,000.
There is a growing interest in pazos (country houses), manor houses and Indiano houses, which often require significant refurbishment. Pazos, for example, are available from €600,000, excluding renovation costs. Modern, ready-to-move-in properties, such as villas with views and large plots, are also popular.
"Luxury property prices have remained stable since last year," says Rosendo. The most exclusive areas are in the Rías Baixas, between Baiona and Finisterre, with Sanxenxo as the epicentre, where the price per renovated square metre reaches €4,000.
Lucas Fox has a four-bedroom, three-bathroom traditional Galician house (312 m2) in the Rías Baixas for sale for €1.25 million. This 1878 property has been completely renovated and has 11,430 m2 of land.
Another outstanding offer in the Rías Baixas is a 15-hectare estate, including three hectares of DO Albariño vineyards, available for €1.95 million. The house is 829 m2 with five bedrooms and two bathrooms.
In urban areas, the highest prices are found in the Los Cantones neighbourhood in A Coruña, where a renovated square metre costs €3,700 and in the Ensanche de Santiago de Compostela at €3,000 per m2.
International buyers dominate the luxury market in Galicia, accounting for 72% of sales, compared to 28% of Spanish buyers, mainly from Madrid and Galicia. "We see many Galicians who live abroad buying second homes here to keep connected with their homeland and enjoy its natural and cultural wonders," says Rosendo.
The main buyers of luxury properties in Galicia come from America and Europe, especially Germany, France and Holland. While Spanish buyers tend to limit themselves to one million euros, international buyers have greater financial capacity, allowing them to extend their offers beyond this figure.
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