Property market statistics
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The traditional slogan of sun and beach in Spain continues to attract foreigners to the country, both to buy and rent property, as well as for holidays.
The sale price of properties on the Spanish coast fell by 0.4% during June, to 1,749 euros/m2, according to a study published by idealista, the largest real estate marketplace in Spain.
The real estate sector in Spain, which has been operating normally again for a little over a month after the COVID-19 pandemic, is experiencing a gradual reactivation and recovery at operations level, while the whole of the Spanish economy is getting back on its feet.
The purchase and sale of housing in Spain by foreigners grew by a slight 0.5%, in comparision to the previous year, in the second half of 2019 to over 50,500 transactions, according to notaries in Spain, for an average price of 1,801 euros/m2.
House prices will decline in nearly all major western European markets this year due to the economic effects of the COVID-19 pandemic, according to the "Government job support will stem European housing market price falls" report by S&P (Standard & Poor's) Global Ratings.
The unexpected crisis caused by the COVID-19 pandemic in Spain and across the world has put the brakes on the real estate recovery that began in 2014. In the coming quarters the housing market faces a drop in sales, mortgage signing, prices and investment operations.
With their eyes already set on what is being called the "new normal", real estate agents in Spain are beginning to wonder what the consequences and recovery will look like and what the keys to a successful come back are that they must carry out in the wake of the coronavirus crisis.
During the current coronavirus crisis in Spain, it's always good to try and look for the positives. The housing market doing exacty this and is trying to get a more positive reading on the health crisis and the economic blow expected from the COVID-19 outbreak.
Ricardo Sousa, CEO of Century 21 in Spain and Portugal, sees it highly probable that "due to the economic situation of the owners and investors, some have the urgent need to sell in order to face the lack of liquidity, so they will apply discounts to achieve a quick sale of their properties in the s
The real estate business is taking a bit from the health and economic crisis that is affecting the whole world.
Spain and Portugal have taken advantage of the recent years of economic recovery to attract large international investors and to enter the list of the most interesting real estate markets in developed countries.
Barcelona continues to attract real estate buyers from all over the world and is one of the best European cities for investment in 2020, thanks to its exceptional quality of life and growing number of investment opportunities.