As temperatures rise, a swimming pool becomes more than a luxury for many Spaniards; it's an essential refuge from the heat. This coveted feature is transforming the real estate market, symbolising exclusivity and comfort. Homes with pools are increasing in value and demand, especially when the sun is shining, and a cool spot to relax is priceless.
However, only a minority can enjoy this luxury: just 24% of homes for sale in Spain have a pool, according to Alfa Inmobiliaria. Despite this, demand is rapidly growing, driving a 10% price increase for such properties in Q1 2024.
This mix of limited supply and rising demand has strengthened the "pool factor" as a key differentiator and value booster in the property market. As a result, homes with pools sell for around 55% more on average than those without. However, this price gap varies across Spain, mainly depending on the availability of such properties in each local market.
Most in-demand areas
Alfa Inmobiliaria highlights Santa Cruz de Tenerife, where homes with pools are rare, causing their prices to nearly double those without.
In contrast, cities like Barcelona, Bilbao and Teruel see that pools add around 60% to property values. Madrid is an exception; the abundance of modern developments with pools and shared areas keeps the premium below 5%.
Pools push up rental returns
This trend impacts both buyers and renters, with pools highly sought after in tourist spots, second-home areas and cities in summer. Landlords can charge higher rent and enjoy better returns than for properties without pools.
However, maintenance costs are significant, especially for communal pools. Alfa Inmobiliaria notes that upkeep can reach €1,000 per month, depending on size and usage.
The future of homes with pools
Traditionally, pools were mostly found in villas and single-family homes. However, the rise of communal pools in new-build developments shows changing priorities among Spanish buyers.
The pandemic, remote work trends and increased home entertainment have shifted demand. Young families and remote professionals now seek homes with recreational and relaxation spaces on-site.
Antonio Pérez de la Torre, general manager of Alfa Inmobiliaria, said: "Pools have become essential, especially for young families and remote workers, offering comfort and leisure at home."
The growing presence of pools in new developments shows this trend will continue. Properties with pools remain highly sought after, symbolising comfort, exclusivity and higher value, a gap set to widen, particularly where supply is limited.
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