Where are foreigners buying properties in Spain in 2022?

Which nationalities are active? Are they residents or not? Which nationalities are buying Real Estate in Spain? What price do they pay?

Europeans are buying properties in Spain as never: 137,000 properties bought by foreigners. Of course, we see many Europeans active as usual and the United Kingdom is still the first country to buy properties in Spain. A new trend is that we see foreigners coming from further: Latin America with Argentina and Venezuela, America and China are there too. Americans are benefitting from a steep discount: the euro is cheaper by 20% in 2022 vs the dollar.

A quick reminder before starting this interesting subject, please remember that if you want to buy a property in Spain, you need an NIE number, read our detailed article for more information: Your ultimate guide to your Spain NIE number – NIE Spain. Another interesting article we would recommend: How to buy a property in Spain as a foreigner? At Howtobuyinspain.com we have the best experts in our network to assist you everywhere in Spain. As you will see in this article, we have the best tools and database to know where the market is and what are the trends. Thanks to that, we help our customers to make the best deals in Spain.

As for all our articles, in this article, you will find interactive charts showing detailed data with a mouse click on it and we have static charts available for download. Please note that our interactive charts have always the most recent data as they are linked to our databases. Of course, our static charts are regularly updated.

1. Which nationalities are buying properties in Spain?

The Statistical Information Center of Notaries in Spain has just released its last report on Foreigners’ activity in the property market.

What was the activity in the Spanish real estate market up to June 2022?

• 703,331 property transactions for the last 12 months: +18% yearly growth
• property activity by Spaniards increased by 13% year-on-year to 562,956
• property activity by foreign buyers increased by 47% year-on-year to 136,921
• This equals 19% of all the property transactions that occurred in Spain.
• 45% of the transactions were carried out by non-resident foreigners and 55% by foreigners living in Spain!

Spaniards and Foreigners are very active: both are buying the most since 2008:

Quarterly statistics of the “Ministerio de Fomento”.

Which are the most active nationalities within the EU buying properties in Spain?

For the last 12 months to the end of June 2022, the most active nationalities were :

• the British with 11.2% of the property purchased by foreigners in Spain,
• the Germans with 10.3% of the property purchased by foreigners in Spain,
• the French with 8% of the property purchased by foreigners in Spain,
• the Romanians with 6.7% of the property purchased by foreigners in Spain,
• the Italians with 5.9% of the property purchased by foreigners in Spain,
• the Belgians with 5.2% of the property purchased by foreigners in Spain,
• the Dutch with 4.9% of the property purchased by foreigners in Spain,
• and the Swedish with 4.2% of the property purchased by foreigners in Spain,

Check our foreigners’ profiles and buyers guides: What are the ideal Spanish properties for Belgians Chinese Dutch English French Germans Italians Moroccans
Romanians Russians Swedish?

Discover the best new build projects in Spain available right now

Most active nationalities outside the EU buying real estate in Spain

The proportion of purchases was also high by foreigners outside the EU:

such as Morocco (7.7%), China (2.6%) or Russia (2%), America (1.6%) and other countries outside the EU 11.2%

If you want to live in Spain, have a quick check at our interesting article on the Golden Visa: Golden Visa in Spain: Your ultimate guide!

Don’t forget to hedge your currency smartly if you are buying from outside the European zone.

Here you go, a quick check of all the nationalities:

Here is the same info reproduced with a pie chart:

Source: Centro de Información Estadística del Notariado de Espana

Which nationalities are buying more properties during the last 12 months to June 2022?

Of course, Europeans are very active in the property market in Spain. Most Europeans come from northern countries. A more recent trend we noticed at howtobuyinSpain in 2022 with many new customers flowing in: Americans are buying actively everywhere in Spain, thanks to the weak Euro vs Dollar. Yes, the Euro lost 20% this year, not bad for Americans looking for bargains. Have a look at our paper written by our property hunter in Madrid for more on that: Americans are buying properties in Madrid.

Here are the countries increasing the most their property purchases in Spain in 2022 vs 2021 (last 12 months to June):

• Netherlands +101%
• Germany +81%
• Ireland +95%
• Norway +72%
• Denmark +70%
• USA +69%
• Sweden +66%
• Switzerland +62%
• Argentina +45%
• France +41%
• Belgium +36%
• UK +36%
• China +31%

Source: Centro de Información Estadística del Notariado de Espana

Which nationalities are less active during the last 12 months to June 2022?

All countries have a positive growth

Here is the evolution of the purchases done by each nationality since 2008

This was the situation end of 2016 when we wrote this article for the first time: we keep the same top 3 nations.

Foreigners living in Spain are more active

• Foreigners living in Spain recorded 74,643 operations, 26% more than one year before.
• Non-resident foreigners bought 62,278 properties, an increase of 84% year-on-year.

This is quite a strong vote of confidence by foreigners living in Spain! Of course, they work there and it is easier for them to buy than non-resident foreigners. Covid had its impacts: people wanted to remote work from a nice place if they could: Spain is a nice option. Others wanted to enjoy a better quality of life: more space, more sun, a better quality of life… while of course, the cost of living in Spain is much lower than in many places in the world and in Europe. For more on that, read our articles: Which are the cheapest cities to live in Spain? The cost of living in Spain vs the UK, Relocate to Spain? Spain is one of the best countries in the world for relocating and for working remotely.

1. Best Professionals 2. Follow up 3. Competitive pricing 4. Partners 5. Qualitative Check

Check our chart analyzing who is more active in the Spanish property market: Foreigners or Spaniards with the evolution since 2007 (the year before the crisis):

2. Where are foreigners buying properties in Spain?

What are the main regions in Spain where foreigners are buying real estate?

Same info in a downloadable format:

Source: Centro de Información Estadística del Notariado de Espana

What is the evolution of each region in Spain during the last 12 months to June 2022?

Check the property transaction growth for each region in Red (right scale) with the number of transactions in Blue (left scale)

Most active regions – The biggest activity of foreigners vs Spaniards?

According to the “Colegio de Registradores de la Propiedad”, the Autonomous Communities with a greater weight of foreigners’ transactions vs Spaniards in the fourth quarter of 2021 are

• The Balearic Islands with 39% of all transactions,
• The Canary Islands with 26% of all transactions,
• The Valencian Community with 24% of all transactions,
• Murcia with 17% of all transactions,
• and Andalusia with 13% of all transactions.

Check our interactive chart on that:

Most active cities where foreigners are buying the most real estate in Spain vs Spaniards?

According to the “Colegio de Registradores de la Propiedad”, the cities where foreigners are the most active (vs Spaniards) in the fourth quarter of 2021 are:

• Alicante
• The Balearic Islands
• Malaga
• Tenerife
• Girona
• Murcia
• Almeria
• Las Palmas
• Castellon
• Tarragona
• Barcelona
• Lleida
• Valencia

Check our interactive chart on that:

Source

Which Spanish regions are the most popular for which nationalities?

We did the ranking for the 12 most active countries in Spain.

Check the evolution of the foreigners’ activity per region since 2007:

Remember the infographic we did on the subject last year, it remains nearly the same in 2018!

3. What price do foreigners pay to buy a property in Spain?

Check the evolution of the price paid for each Spanish region since 2007 by foreigners:

The average price per square meter of properties bought in Spain by foreigners increased by 2% year-on-year to June 2022. The acceleration of real estate prices was recorded both among property transactions done by non-residents and by residents, although the former paid higher prices than the second ones, € 2,522/ m² against € 1,622 / m², respectively (with an average of € 2,062/ m²)

This price discrepancy between foreigners living in Spain and not living in Spain could come from many factors:

• Non-residents are buying top-notch second homes in more expensive locations: expensive cities and premium areas with sea views and large terraces for instance. They are going for the best properties on the market.
• Non-residents who are buying a second home in Spain are wealthy and have a higher budget from start.
• Non-residents are buying newbuild properties in Spain and newbuild properties are more expensive than resale,
• Some new “resident foreigners” relocate to Spain because of the high quality of life in Spain and the low cost of real estate in Spain. So they are looking to start a new life they can afford and will go for low-cost properties inland. Read more on that in our article: Which are the most expensive and cheapest cities to live in Spain?

You can check the evolution of the price per square m paid by foreigners (resident or not in Spain) and Spaniards (resident or not in Spain) since December 2007 (the year before the crisis) on this chart:

In terms of levels, the average price per square meter paid by foreigners continued to register strong differences between each region. End of June 2022, it was below the national average
of € 1,741 in 12 of the 17 Regions. Please note that the average paid per square meter by foreigners is € 2,062.

Regions under €1,000:

Extremadura, Castilla-La Mancha, La Rioja, Castilla y León, Aragón and Galicia.

Regions between € 1,000 and the national average paid by foreigners for real estate €1,741

Murcia, Asturias, Navarra, Cantabria and the Valencian Community

Regions above the national average for properties in Spain € 1,741

• The Canary Islands €2,195,
• Catalonia €2,249,
• Basque Country €2,230,
• Madrid €2,893,
• and Baleares €3,894.

Interestingly, all those regions are areas of interest to foreigners apart from the Basque Country, a region much appreciated by the French.

Let’s have a closer look at current property prices (value written in Blue on the chart) and at the price evolution (left scale) for each Spanish region for one year. The regions are Alphabetically sorted.

As you can see from the chart we just showed: prices are increasing everywhere.

Spanish regions with the fastest increasing prices over the last year to June 2022

Spanish regions with decreasing prices over the last year

• None

If you want to read more on the subject and you missed our paper of last semester: Which are the top 10 Spanish cities where foreigners are buying properties NOW? And don’t miss our property buyers guide written for any foreign country.

Source: Read the full paper in Spanish here.

Who are the foreigners paying the most in Spain for their properties?

As of June 2022, here is our alphabetical ranking of real estate prices paid by foreigners in Spain:

• People from Argentina pay on average 1759 € per square meter for their properties in Spain.
• People from Belgium pay on average 2104 € per square meter for their properties in Spain.
• People from China pay on average 1741 € per square meter for their properties in Spain.
• People from Denmark pay on average 2870 € per square meter for their properties in Spain.
• People from Ecuador pay on average 1198 € per square meter for their properties in Spain.
• People from France pay on average 2149 € per square meter for their properties in Spain.
• People from Germany pay on average 2657 € per square meter for their properties in Spain.
• People from Ireland pay on average 2092 € per square meter for their properties in Spain.
• People from Italy pay on average 2103 € per square meter for their properties in Spain.
• People from Morocco pay on average 694 € per square meter for their properties in Spain.
• People from the Netherlands pay on average 2252 € per square meter for their properties in Spain.
• People from Norway pay on average 2701 € per square meter for their properties in Spain.
• People from other countries in EU pay on average 2148 € per square meter for their properties in Spain.
• People from other countries in the world (outside EU) pay on average 2015 € per square meter for their properties in Spain.
• People from Portugal pay on average 1782 € per square meter for their properties in Spain.
• People from Romania pay on average 1097 € per square meter for their properties in Spain.
• People from Russia pay on average 1989 € per square meter for their properties in Spain.
• People from Sweden pay on average 2701 € per square meter for their properties in Spain.
• People from Switzerland pay on average 2567 € per square meter for their properties in Spain.
• People from the UK pay on average 2003 € per square meter for their properties in Spain.
• People from Ukraine pay on average 1612 € per square meter for their properties in Spain.
• People from the USA pay on average 2837 € per square meter for their properties in Spain.

Here is our downloadable infographic on that:

Source: Centro de Información Estadística del Notariado de Espana

Of course, there are many reasons to explain those differences:

• The region where those nationalities are buying on average,
• The location of the property: sea view? countryside? within a city?
• The type of properties: villa or apartment, newbuild or resale, with terrace or plot or not,…

So, those are just “statistics” but they are interesting as price discrepancies between foreigners are quite big when foreigners buy properties in Spain.

4. How to start your property search in Spain?

Here is our A to Z must-read guide: Our ultimate 2022 guide to buying your property in Spain.

At HTBIS, we assist foreigners with their property search in Spain thanks to our network of local partners: legal advisers, tax advisers, property hunters and much more. Discover all our partners here.

Looking for an expert in Spain? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

FAQ

The post Where are foreigners buying properties in Spain in 2022? appeared first on How to buy in Spain.

Our list of Spain’s top 5 golf academies

320 days of sun in Spain = no excuses if you want to play golf!

If you want to check how hot it is in your preferred Spanish City, check our weather infographics with the monthly statistics of the top 20 cities in Spain.

Spain is one of the top destinations for Golf… of course as a foreigner, you have to carry your bag and pay the airline fee… we found the solution for you… check it here.

Golf, although not as popular as football or tennis, is a sport practiced by a large section of the population. In addition, Spain has some of the best golf clubs in Europe.

Here is our selection of the best golf Academies in Spain, to be clear, we don’t pretend to rank the academies between them, we want our readers to know where to look if they want to improve their golf:

Don’t miss our “on the courses” new build constructions at our exclusive rates:

1. La Cala Golf Academy

La Cala Resort hosts La Cala Golf Academy which offers lessons and group classes for both beginners and experienced players, with multilingual professionals on hand to improve your game.

Situated beside the six-hole par-3 course and overlooking the Mediterranean Sea, it has a grass driving range as well as putting, chipping and bunker facilities.

Our resident Golf Professionals are available to pass on their expertise and teach all levels of golfers through a wide variety of tuition programs.

It offers a lot:

• A 6-hole course to practice short game
• Summer Camps for juniors
• Golf Clinic + Spa
• Get into Golf
• Evolution Package
• Junior Golf Schools
• Golf Lessons: One-on-one, Golf School

And of course: Club rental, Club fitting, practice, driving range, Pro-shop

The “La Cala Golf” has 3 golf courses of 18 holes in addition to the La Cala Golf Academy.

The environment

The La Cala Golf Academy is based on a resort nestled between the arresting beauty of the Sierra de Mijas Natural Park and the shimmering Mediterranean Sea, La Cala is a genuine haven of tranquility. Unwind in the sanctuary of our breathtaking mountain-top location; take it at your own pace.

Our idyllic rural retreat is worlds away from the hustle and bustle of the busy coast, yet we’re just 10 minutes from the sweeping Mediterranean beaches of the Costa del Sol, 20 minutes from Marbella, and only 30 minutes from Malaga Airport.

It’s the perfect base for exploring Andalusia and Spain’s fascinating cultural cities, and our breathtaking surroundings create the perfect backdrop for holidays, weddings, and corporate events.

Video of La Cala Resort Golf academy

Weather Statistics for the top 20 Spanish Cities, check here for Malaga for instance

Everything you should enjoy in the Costa del Sol

Contact details

• • Situation: Costa del Sol, Andalusia, Mijas, 40 km from Malaga airport.
  • Address: Urbanización Cala Golf, s/n, 29649 Mijas, Málaga, Spain
  • La Cala Resort GPS coordinates: 36.535549, -4.722254
  • Map

• Website: La Cala Golf Academy.
• Phone: +34 952 669 037
• Email: [email protected]

Discover the best new build projects located on a golf resort in the Costa del Sol (some projects are even based in La Cala resort)

2. The Miguel Angel Jimenez Golf Academy

Miguel Ángel Jiménez Rodríguez (born 5 January 1964) is a Spanish professional golfer. He has won 21 times on the European Tour and has been a member of two victorious Ryder Cup teams according to Wikipedia.

This academy offers a lot:

• Golf School
• 9-hole golf course
• Junior Academy
• Masterclasses

And of course: Club rental, practice, driving range, Pro-shop

The environment

Very good location close to the airport.

Video of the Miguel Angel Jimenez Golf Academy

Weather Statistics for the top 20 Spanish Cities, check here for Malaga for instance

Everything you should enjoy in the Costa del Sol

Contact details

• • Situation: Costa del Sol, Andalusia, Torremolinos, Málaga
  • Address: Calle Corelli, 2, 29620 Torremolinos, Málaga, Spain
  • GPS coordinates: 36.761387, -4.513822
  • Map:

• Website: Michael Angel Jimenez Golf Academy.
• Phone: +34 951 909 490
• Email: [email protected]

Discover the best new build projects in the Costa del Sol and Andalusia

3. Las Colinas Golf and Country Club

The Golf Academy at Las Colinas offers one of the finest learning experiences to be found. Our practice facilities include a beautifully manicured natural grass hitting area, a large putting green, a short game area where you can practice a variety of different shots, and your own individual pyramid of complimentary top-quality Callaway practice balls. Trackman 3D ball and club tracking technology are used in combination with high-speed video and the iPad for instant review and analysis of your swing.

The Golf Academy is directed by Head Professional Samuel Curtis. The Golf Academy provides top-quality golf coaching to golfers of all ages and abilities. We are confident that our expansive coaching philosophy, which isn´t solely limited to swing technique, enables us to help all golfers improve their scores and enjoyment of this wonderful game.

All of this, in our pleasant and tranquil surroundings, will surely mean that your best golf can be discovered here at Las Colinas Golf & Country Club.

This academy offers a lot:

• Individual & Group lessons
• Golf course lessons
• Half-day, full-day, two days, three days coaching and retreats
• Fitting of swing with Trackman analysis and video analysis
• Fitting of putting with Focusband

And of course: Club rental, practice, Fitting, driving range, Pro-shop

The environment

Las Colinas Golf & Country Club course has a single target: to offer the best services and amenities so that every single customer enjoys a unique experience.

Designed by the renowned North American landscape architect, Cabell B. Robinson, the designer of internationally recognized golf courses such as La Reserva in Sotogrande, Finca Cortesín on Costa del Sol, Praia d’El Rey in Portugal, and Royal Golf d’Evian in France.

In Cabell’s own words, “my ultimate target as a landscape architect is for the course to form an integral part of the existing landscape… A unique feature of this course is that it runs through a valley between hills high enough to give it privacy and isolate it from its surrounding area.”

Video

Weather Statistics for the top 20 Spanish Cities, check here for Alicante for instance

Everything you should enjoy in the Costa Blanca

Contact details

• • Situation: Costa de Blanca, Alicante
  • Address: Av. de las Colinas, 2, 03189 San Miguel de Salinas, Alicante, Spain
  • GPS coordinates: 37.930110, -0.807471
  • Map:

• Website: Las Colinas Golf & Country Club
• Phone: +34 965 32 40 04
• Email: [email protected]

Discover the best new build projects in the Costa Blanca and Alicante

4. Monnard Widmer Academy

Let’s work on your game, be it putting, short or long game. We love taking our guests for playing lessons on the course, there is so much to learn and improve.

They work with:
-Technology we use: High-speed video analysis, FlightScope Radar Technology, Sam Puttlab, Boditrak Pressure Mat.

This academy offers a lot:

• Golf School
• Intensive instruction beginners
• Advances instruction course
• Specialized Putting Session
• Family Golf Classes

And of course: Club rental, practice, Fitting, driving range, Pro-shop

The environment

We selected the most beautiful golf courses in Majorca. The courses had to fulfill certain criteria like quality of the golf course, green speed, practice facility, hotels in the area, clubhouse, ambiance, and restaurant. Read more about our teaching locations:

Capdepera Golf, Majorca: Capdepera Golf is ideal for learning and teaching. Plenty of space on the range, and difficult and easier nines cater to different playing levels. 4 Golf courses within 15 mins of driving.

Golf Son Gual, Majorca: Since opening in 2007, the course got famous for its quality and design standards. Its holes are all having that little something, making a round of golf a great experience.

Canyamel Golf, Majorca: Canyamel Golf is definitely one of the best clubs quality-wise on the island. Some interesting holes and difficult greens make your day a nice day to remember, but probably not a good score day. The course is a difficult one. But we all do like a little challenge, don’t we?

Santa Ponsa 1, Majorca: Santa Ponsa Golf 1 is a fun course, offering interesting holes with wide fairways and tight Par 4s that require a strategy to get a score home. The practice facilities are spacious and the range has a covered roof.

Weather Statistics for the top 20 Spanish Cities, check here for Mallorca

Everything you should enjoy in the Balearic Islands

Contact details

• • Situation: Balearic Islands, Capdepera
  • Address: Capdepera Golf C. Arta Capdepera, km 3,5, 07570 Artà, Illes Balears
  • GPS coordinates: 39.699575, 3.396556
  • Map:

• Website: Monnard Widmer Golf Academy
• Phone: +34 639 635 634 Michel Monnard, +34 687 578 051 Tobias Widmer
• Email: coming soon

Discover the best new build projects in the Balearic Islands

5. IH Golf Academy – Guadalhorce Club de Golf

High-performance training methodology with IH Coaching System
Inspired by North American teaching methods, consolidated by many years of experience with players of different profiles and after a long journey in youth competitions, IH Coaching System works with an open and evolving methodology that adapts to the characteristics of each player. For this, we have a team of qualified experts in different areas of sport.

They work with:
-Planning and advice on:

• Promotion of the player
• Sports decision making
• Tournament Calendar
• Training

-Analysis and conclusions:

• Techniques
• Statistics

-Coaching game on the field:

• Vision of the game
• Strategy
• Tactics
• Focus

-Continuous attention:

• Physiotherapy
• Sports Psychology
• Physical preparation
• Personalized attention and study of the particular needs of each player

This academy offers a lot:

• Golf School
• Fitting of swing with K-Vest, Trackman, and Flightscope
• Fitting of putting with Focusband

And of course: Club rental, practice, Fitting, driving range, Pro-shop

The environment

Very good location close to the airport.

Weather Statistics for the top 20 Spanish Cities, check here for Malaga for instance

Everything you should enjoy in the Costa del Sol

Contact details

• • Situation: Costa del Sol, Andalusia, Málaga
  • Address: Avenida José Ortega Y Gasset S/N
    Campanillas (Málaga)
  • GPS coordinates: 36.715501, -4.530753
  • Map:

• Website: IH Golf Academy
• Phone: +34 952 17 82 82, +34 692 678 845
• Email: [email protected]

Discover the best new build projects in the Costa del Sol and Andalusia

Do you want to read further?

• The 48 golf courses of the Costa del Sol & The best deals
• Our Top 6 Golf courses in Spain
• Find all the useful information (Spanish only) from the Spanish Federation of Golf Clubs. You can search all the clubs for a specific region and find those back on a google map, find all the regions federations,…very useful.
• The top 100 courses in Spain
• The ranking from the leading golf courses of the top 100 courses in Spain
• The best golf resorts in Spain according to Tripadvisor
• The golf information from the Spanish Tourist office

Are you looking to book holidays in Spain? Read our interesting paper on that: Our best ideas for planning your holidays in Spain!

Looking for a real estate expert in Spain? Architect, Property Hunter, Lawyer? Ask us directly!

Stéphane

Senior Analyst and Strategist at HTBIS

Check the full HTBIS team here

The post Spain’s top 5 golf academies appeared first on How to buy in Spain.

Click on any flag to get an automatic translation from Google Translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten

Spain’s tourism is back… to new highs as of April 2023 ☀  😎

In this quick guide, you will find all our resources in order to organise your best holidays in Spain. Of course, it is very helpful as well if you are looking to buy a property in Spain.

Too busy? Here is our quick-read summary:

Here is why tourism is strong in Spain – our 4 minutes video

Would you like to watch this video in your own language? Click at the bottom right of the video on “cc” to get subtitles in your language.

Spain recorded its best April ever in terms of international tourist numbers and spending levels

20% above the pre-pandemic record

Spain had a record year regarding tourism in 2019, nearly 84m tourists visited Spain. Since then… we all know the story.

But, yes make no mistake, April 2023 saw its biggest number of incoming tourists in Spain EVER!

In the first four months, Spain received 21 million arrivals, 32.4% more than in the same period in 2022, according to the National Statistics Institute (INE).

Visitor and spending records were also broken in April: 8.48 billion euros, up 22.7% on 2022 and 20.2% on the best pre-pandemic figure (2019).

Héctor Gómez: “These are extraordinary figures that show, once again, that Spain is at the forefront, that tourism is recovering fully and that the government’s policies are working”.

Here is the evolution of tourism towards Spain with a rolling year of data:

Major research conducted by the World Travel & Tourism Council (WTTC), the global body which represents the private sector of Travel & Tourism, has revealed Travel & Tourism is the largest sector in the Spanish economy, contributing €176bn to the nation’s activity.

Yes indeed: Travel & Tourism contributes 15% of the Spanish GDP, overtaking Construction (14%) and ahead of Retail (12%) and Health (12%).

Why Spanish tourism is booming again? There are many reasons:

The top #10 reasons why tourists love Spain so much

Let’s start with the three obvious reasons: weather, a long coastline and of course a word class lifestyle.

#1 The weather: Spain has 320 days of sun ☀ per year, not bad.

Check this useful infographic showing how many hours of sun you will have on a yearly basis for any place in Europe.

Sunshine map of Europe, in Hours per year

Source: Wikemedia.org

Sunshine in Spain is higher than 2500 hours per year… No other country can compete in Europe with that and if you calculate the number of square kilometre with at least 2500 hours of sun per year, Spain has about 80% of the European supply. In this other interesting table from World weather online, Spain holds 6 out of the top 10 positions in Europe in terms of average monthly sun hours.

Number of hours of sun per month for the major European cities

Do you want to check the weather statistics for any Spanish city to make an informed decision? Have a look at our Infographics on the monthly weather statistics for the 18 biggest cities in Spain: Madrid, Barcelona, Alicante, Malaga,… and discover the sea temperature, the number of hours of sun per day, the number of mm of rain per month… Everything you need before planning your holidays.

Monthly weather statistics for the top 20 Spanish cities

#2 The wonderful coastline of Spain

Spain has the second longest coastal line in the south of Europe behind Italy. Enjoy the beautiful beaches of Spain. Don’t miss our detailed articles on all the Spanish Costas later in this article.

 

#3 The Spanish lifestyle

 

• Spain is the world’s healthiest country

 

• Spain enjoys a very stable political environment compared to Africa or Turkey for instance.

 

• Life expectancy in Spain is the second-best country in the world:

Let’s check the top 10 countries in the world by country and by sex. As you will see in the statistics produced by the OECD (2014 data), the life expectancy of Spaniards is the second longest in the world behind the Japanese. The Women are ranked as well as second and the men are ranked sixth.

• The Spanish health Care System is the seventh best in the world as the ranking of the World Health Organization.

 

• Spain is fourth in the world for work-life balance ranking

behind the Netherlands, Denmark and France. What a terrific result! The key findings of the research from the OECD are that the ability to successfully combine work, family commitments and personal life are important for the well-being of all members of a household. In Spain, almost 6% of employees work very long hours, less than the OECD average of 13%. The more people work, the less time they have to spend on other activities, such as time with others, leisure activities, eating or sleeping. The amount and quality of leisure time are important for people’s overall well-being and can bring additional physical and mental health benefits. In Spain, full-time workers devote 66% of their day on average, or 15.9 hours, to personal care (eating, sleeping, etc.) and leisure (socialising with friends and family, hobbies, games, computer and television use, etc.) – more than the OECD average of 15 hours.

At around 1.3 children per woman, fertility rates in Spain have been amongst the lowest in the OECD for the past two decades. Increasingly, women and men first want to establish themselves in the labour market before having children. This has led to a postponement of childbirth and the average age of first childbirth for mothers is now close to 30. Low fertility rates are also related to a fall in the number of large families and a significant proportion of women remaining childless.”

 

#4 The cost of living in Spain

 

The cost of life in Spain is much lower than European averages.

We did the work with the help of the Statistics from Eurostat as of December 2017 to compare Spain vs all the other countries in Europe so that you could compare to your actual country of origin.

Here are the results:

Cost of living in Spain vs Euirope, chart

If you compare Spain on this Chart in Orange colour with Europe in Blue colour, you will notice that Spain is more expensive in 2 areas: “Electricity, Gaz and fuels” and “Furniture and Furnishings” by 3%. A third sector not represented on this chart is Communication, which is 28% more expensive than the rest of Europe. For all the other sectors, Spain is cheaper!

Let’s have a look at the data:

Cost of living in Spain vs Europe, table

As you can see with the General Index, Spain is on average 10% Cheaper than Europe! Then, Spain is very cheap for “Transport Services”, “Restaurants and Hotels”, and “Clothing” and yes the list doesn’t stop here… Spain is really cheap for “Food and Drinks and Tobacco”.

For more information, read our articles on that subject with more up-to-date data:

• Which are the Spanish cities with the lowest cost of living?
• The cost of living in Spain vs UK

 

Cost of living in the major Spanish cities vs worldwide cities

 

#5 Family activities in Spain

Many interesting activities to practice with the family in Spain, here are a few:

• Where will you find the top Beaches in Spain?
• Our selection of the Top parks for children in Spain
• Our Top 5 UNESCO World Heritage Sites in Spain (see more later)
• And of course, no season for shopping (but we added to the winter section just below) 🙂

 

#6 Spain is a  wonderful place for Golf lovers

 

• Our Top 6 Golf Courses in Spain
• The 48 golf courses of the Costa del Sol & The best deals
• Our list of Spain’s top 5 golf academies

 

#7 Not only for the summer… Spain is the perfect place for tourism in the Winter

With its nice weather, Spain stays a nice place to visit even in the winter.

Last but not least… yes, let’s enjoy some shopping:

• #8 The best Spanish shopping experience: Alicante, Barcelona, Madrid, Malaga
• The best shopping secret in Spain: El Corte Ingles Tourist Card

 

#8 Cultural heritage tourism and rural tourism

Cultural heritage tourism in Spain thrives as the nation’s rich history paints a diverse and compelling tapestry of civilizations.

From the prehistoric caves of Altamira to the grandeur of the Alhambra in Granada, and the Sagrada Familia in Barcelona, the country offers a plethora of UNESCO World Heritage sites that reflect the influences of the Romans, Moors, and more recently, the modernist movement.

Lastly, nature and rural tourism flourish in Spain’s diverse landscapes. From the rugged Picos de Europa to the volcanic beauty of the Canary Islands, and the tranquillity of idyllic rural villages, Spain offers a variety of ecological diversity that inspires a sense of awe and adventure among outdoor enthusiasts.

 

Top Sights places & Unesco world-heritage places

Spain is a very rich country in terms of culture. You have a lot of Museums, many historic places, many sightseeing places. Spain has as well 45 UNESCO Sites and as such is the third country in the world behind Italy & China in terms of the number of sites! So don’t expect Spain to be just Sun and beaches!

Check all the must-do activities on any of the Spanish Costas with our beautiful infographics.

Here is the list of the Unesco sites with direct links to get more information on those:

• Alhambra, Generalife and Albayzín, Granada(1984)
• Antequera Dolmens Site(2016)
• Aranjuez Cultural Landscape(2001)
• Archaeological Ensemble of Mérida(1993)
• Archaeological Ensemble of Tárraco(2000)
• Archaeological Site of Atapuerca(2000)
• Burgos Cathedral(1984)
• Catalan Romanesque Churches of the Vall de Boí(2000)
• Cathedral, Alcázar and Archivo de Indias in Seville(1987)
• Cave of Altamira and Paleolithic Cave Art of Northern Spain(1985)
• Cultural Landscape of the Serra de Tramuntana(2011)
• Heritage of Mercury. Almadén and Idrija(2012)
• Historic Centre of Cordoba(1984)
• Historic City of Toledo(1986)
• Historic Walled Town of Cuenca(1996)
• La Lonja de la Seda de Valencia(1996)
• Las Médulas(1997)
• Monastery and Site of the Escurial, Madrid(1984)
• Monuments of Oviedo and the Kingdom of the Asturias(1985)
• Mudejar Architecture of Aragon(1986)
• Old City of Salamanca(1988)
• Old Town of Ávila with its Extra-Muros Churches(1985)
• Old Town of Cáceres(1986)
• Old Town of Segovia and its Aqueduct(1985)
• Palau de la Música Catalana and Hospital de Sant Pau, Barcelona(1997)
• Palmeral of Elche(2000)
• Poblet Monastery(1991)
• Prehistoric Rock Art Sites in the Côa Valley and Siega Verde(1998)
• Renaissance Monumental Ensembles of Úbeda and Baeza(2003)
• Rock Art of the Mediterranean Basin on the Iberian Peninsula(1998)
• Roman Walls of Lugo(2000)
• Routes of Santiago de Compostela:Camino Francés and Routes of Northern Spain (1993)
• Royal Monastery of Santa María de Guadalupe(1993)
• San Cristóbal de La Laguna(1999)
• San Millán Yuso and Suso Monasteries(1997)

Here is Our Top 5 UNESCO World Heritage Sites in Spain

 

#9 Nature tourism

Spain is an ideal destination for nature tourism, offering a diverse range of environments that attract visitors from around the world.

From the rugged cliffs and crystal-clear waters of Costa Brava to the breathtaking peaks of the Pyrenees and Sierra Nevada, the country presents an impressive spectrum of natural beauty. Spain’s numerous national parks, such as Donana National Park and Picos de Europa, provide opportunities to see unique wildlife and plants in their native habitats, while the volcanic landscapes of the Canary Islands, particularly Teide National Park in Tenerife, offer otherworldly vistas.

Moreover, the Camino de Santiago trails draw hikers seeking a blend of spiritual, cultural, and natural experiences. With sustainable practices gaining traction, eco-friendly accommodations and tours are also becoming increasingly popular, further boosting nature tourism in Spain.

Thus, for those seeking to immerse themselves in nature, whether through hiking, bird-watching, or simply relaxing, Spain provides an abundance of options.

Countryside outside Barcelona

#10 Gastronomic tourism in Spain

 

Spain is also famous for its gastronomic tourism. The unique flavours of Spanish cuisine, embodied in its tapas, paellas, and world-class wines, draw food enthusiasts to regions like Andalusia, Catalonia, and the Basque Country, providing an edible exploration of the country’s varied regions.

Here are a few examples, not exhaustive of course, of the Spanish cuisines.

 

### The Andalusian Delicacies

Andalusia, nestled in the heart of Spain, is best known for its olives, sherry, and tapas. The region follows the quintessential Mediterranean diet, which focuses on heart-healthy olive oil, a variety of fruits and vegetables, and high-quality proteins like fish and legumes. One must-try dish is the Gazpacho Andaluz, a refreshing tomato-based cold soup that perfectly embodies the region’s love for fresh produce. Pair this with a glass of Fino or Manzanilla, Andalusia’s signature sherries, for a well-rounded Andalusian feast.

Spanish beef

### The Seafood Extravaganza of Galicia

Moving up to the north-west coast, Galicia boasts a breathtaking coastline that contributes heavily to its seafood-rich diet. Here, the Empanada Gallega reigns supreme – a hearty pie filled with various ingredients, most commonly tuna, sardines, or pork. Don’t miss out on the region’s renowned Pulpo a la Gallega, a delicacy of tender octopus seasoned with paprika, rock salt, and olive oil. Galicia’s Ribeiro and Albariño wines, with their crisp and fresh qualities, perfectly complement the seafood palette.

### The Gastronomic Wonders of Catalonia

In Catalonia, gastronomy is as diverse as the region itself, blending flavours from the mountains and the sea. The traditional Catalan diet is rich in vegetables, legumes, and cereals, supplemented by meat and dairy products. An iconic dish is the Escudella i Carn d’Olla, a hearty meat and vegetable stew savoured during the winter months. Catalan cream, a sweet and creamy custard topped with a hard layer of caramel, is a must-try dessert for the sweet-toothed traveller.

### The Unique Flavours of Basque Country

Last but not least, we journey to the Basque Country, a region celebrated for its pintxos – small finger foods served atop bread, akin to tapas but with a unique Basque twist. The traditional Basque diet showcases locally sourced ingredients, including fish, lamb, and an assortment of vibrant vegetables. Try the Marmitako, a tuna and potato stew that originated from Basque sailors, and the Gilda, the most iconic pintxo composed of olive, anchovy, and guindilla pepper.

 

The beauty of Spain’s gastronomy lies in its diversity, with each region offering its own unique dietary patterns and food traditions. From the refreshing Gazpacho of Andalusia to the seafood delight of Galicia, the hearty stews of Catalonia, and the famous pintxos of the Basque Country, Spain’s gastronomic landscape invites you on a journey that promises to enchant your senses, captivate your heart, and leave an indelible impression on your palate. So, pack your bags (and your appetite) and embark on an unforgettable gastronomic adventure in Spain!

 

Discover the beautiful Spanish Costas – All our resources are here

In order to help you discover all the Spanish Costas, we wrote detailed articles with nice downloadable maps with all the major activities for each of the Spanish Costas. You will learn about the regions and find all the useful information as:

• Where are the closest Airport and Fast train stations (AVE in Spain)?
• What are the biggest cities in the region?
• Where are the Unesco sites in that Spanish Costa?
• Where can you find the top beaches?
• Where can you find the best Kids’ Parks, traditional markets, Shopping Malls & Outlets, Top golf courses and Natural Parks?
• Last but not least, we will give you a direct link to the local tourist offices.

Here are all the links for the different articles and infographics on all the Spanish Costas:

• Everything you ever wanted to know about the Costa de Almería.
• Everything you ever wanted to know about the Costa del Azahar.
• Everything you ever wanted to know about the Balearic Islands.
• Everything you ever wanted to know about the Costa de Barcelona.
• Everything you ever wanted to know about the Costa Blanca.
• Everything you ever wanted to know about the Costa Brava.
• Everything you ever wanted to know about Costa Calida.
• Everything you ever wanted to know about the Canary Islands.
• Everything you ever wanted to know about Costa Daurada.
• Everything you ever wanted to know about the Costa de la Luz.
• Everything you ever wanted to know about the Costa del Sol.
• Everything you ever wanted to know about the Costa Tropical.
• Everything you ever wanted to know about the Costa de Valencia.

 

Find all our best Spanish Costas infographics: Costa Brava, Costa del Sol, Costa Blanca, Costa Barcelona, Balearic Islands, Canary Islands,…

 

Spanish tourism in numbers: Where do tourists go? Where do they stay?

Here is a quick sum up of all the interesting statistics about tourists visiting Spain from the Spanish national office. All the data are for the full year 2022. So yes, they are not yet back to pre-coronavirus 2019 but close to being. 2023 just started strongly and should be back to 2019 level if not stronger.

#1 Where do tourists in Spain come from?

The top 5 countries for the full year 2022 are:

1. The United Kingdom with 21% of the tourists
2. Germany with 14% of the tourists
3. France with 14% of the tourists
4. Nordic countries with 6% of the tourists
5. Italy with 6% of the tourists
6. Netherlands with 5% of the tourists

Here is our interactive chart with those data:

If you are travelling to Spain and would like to buy your dream home, start with our Spanish property buyer’s guides written for the top 10 nationalities buying properties in Spain.

 

#2 How do tourists arrive in Spain?

83% of the tourists visiting Spain came by plane. If we think about it, it’s obvious, people travel from far where they have less sun to Spain in order to enjoy the sun. Spain has a very strong network of International Airports.

Have a look at our earlier articles on that:

• What are the nationalities of the passengers flying to/from Spanish airports in 2018?
• What are the biggest airports in Spain?

The second way of arriving in Spain is the car, 15% of travellers towards Spain come by car. Spain benefits from a very strong infrastructure network and in addition to that, there is a latest trend in Spain: Motorways are becoming toll-free in Spain…

Last but not least, even if the AVE Network does exist for more than 25 years in Spain, only a minor portion of tourists come from abroad with fast trains. For sure, the fast train AVE Network helps tourists to move quickly between cities.

#3 Which are the most visited Spanish Regions by foreign tourists in 2022?

The top 4 Spanish regions are receiving 70% of the tourism traffic.

1. Catalonia with 21% of the tourists
2. The Balearic Islands with 18% of the tourists
3. The Canary Islands with 17% of the tourists
4. Andalusia with 14% of the tourists
5. Valencian Community with 12.0% of the tourists
6. Other Spanish regions apart from Madrid: 9.2%
7. Madrid with 8.4% of the tourists

Discover all the beautiful Costas of  Spain

Find all our best Spanish Costas infographics: Costa Brava, Costa del Sol, Costa Blanca, Costa Barcelona, Balearic Islands, Canary Islands,…

#4 How long do tourists stay in Spain?

• No night 32% of trips
• 1 night 3% of trips
• 2 to 3 nights for 12% of trips to Spain
• 4 to 7 nights for 33% of trips and so yes, this is the most common length of stay in Spain
• 8 to 15 nights for 15% of travellers
• More than 15 nights for only 5% of travellers, I guess retirees :-).

#5 Where do the tourists stay in Spain? Hotel? Friends?

There were 71,561,489 trips booked in 2022 by foreigners in Spain. Out of those 83% paid to stay a night somewhere and 17% didn’t pay.

For those paying for their accommodations, here is where they went:

• 82.5% of tourists booked a hotel
• 12% went for a housing rental
• And the balance went for camping or other facilities like the “Casa Rural”

For the tourists that did not pay for staying in Spain,  they either enjoyed their personal property 34.5% or enjoyed the hospitality of family and friends 60% of them. The balance is other non-paying options for 5%.

What are the best investment opportunities for a second home?

In order to assist you with your property hunting in Spain, check our dedicated article: The best search tips for buying your Spanish property (if you are too busy start here)

Other interesting resources on Spanish Tourism

• The Ministry of Tourism in Spain
• Wikipedia on Spanish Tourism
• The official tourism office in Spain
• Lonely planet guide on Spain
• And for French readers “Le guide du routard sur l’Espagne”
• Interesting statistics on Spanish Tourism from Statista.

Our downloadable infographics on the Spanish tourism

If you want to have more resources before visiting Spain, here is the official website of the Spanish tourism office.

Source: INE

Our FAQ on Tourism in Spain

The post Spain’s tourism is back… to new highs as of April 2023☀  😎  appeared first on How to buy in Spain.

Follow this link if you are looking for the latest real estate price trends for Spain’s top 20 cities.

The Spanish real estate outlook 2023

Last year, we predicted a strong market with price increases between 3 and 6 per cent. We were spot on!

The Spanish real estate market should be more stable in 2023 and we could even see some price decreases. As we will explain in this report, Expectations for the Spanish housing market are for price changes between minus three per cent and plus 4 per cent as experts have different views due to a greater uncertainty of the evolution of the economy. The good news is that many experts see it as one of the best-performing markets in Europe for 2023.

Inflation will be the main topic if you want to understand the real estate market: after many years of loose monetary policy and after the war in Ukraine, inflation is back and should stay with us for a while. We will have to cope with that. Last year we already spotted those potential risks for the real estate markets in our Spanish real estate outlook for 2022. So, this is not a surprise for us. But we have to admit that the magnitude of the moves impressed us.

In this report, you will have our detailed outlook on the Spanish real estate market and benefit from the analysis and feedback of our local experts and partners established everywhere in Spain. Of course, the market won’t rise as much as in 2022 on one hand, but it will give more opportunities on the other hand. And make no mistakes, we will explain to you why real estate prices in Spain remain conservative at current levels: we don’t see excesses as in 2008.

Last but not least, we tell you why we think that Spain’s economy should become stronger than other European countries over the next five years. This positive news should keep the Spanish real estate market healthy and in demand at least compared to other real estate markets in Europe.

In this environment, Spain has a lot to offer to Spaniards, foreigners and remote workers: a high quality of life. Actually, Spain is one of the best places to relocate and work remotely thanks to 320 days of sun and of course the low cost of living in Spain.

Looking for a comprehensive and up-to-date analysis of real estate prices in all major Spanish cities? Look no further than our quarterly report, which provides precise insights you won’t find anywhere else.

The Spanish property market will be a buyers’ market in 2023

Here are the important metrics to follow in 2023:

• Inflation
• mortgage rates
• the consumers’ purchasing power
• Economic activity in Spain and in Europe
• Remote working
• Of course as usual what will be the activity of foreigners in Spain in 2023?

Yes, let’s start with the bad news: inflation is back. That is why both short-term and long-term interest rates have risen. So, as a consequence, mortgage rates are much higher now than one year ago. We expect this situation to stay at least two years, maybe more. So, property financing with mortgages will be less easy for buyers and the Spanish economy should moderate in the short term. Those are the two main reasons why we think the Spanish property market will mark a pause in the short term. The good news is that mortgage rates are not crazy if you compare them to inflation.

Check the evolution of the mortgage rates: average, fixed and variable over the last year

Transactions should decrease and prices should be stable or decrease slightly

as on one hand, economic activity will be less strong and on the other hand mortgages rates are rising.

Both Spaniards and foreigners will be less active, which will give more opportunities for the buyers, and even more for the foreign cash buyers that don’t need a mortgage.

Foreign cash buyers will be the perfect time to get a better home: more space inside and outside and more light, and for those with a smaller budget, our advice is to go after a second home outside city centres.

That is why we are optimistic for foreigners in 2023: opportunities will be there and the market will be less tense.

So, our view is that prices could decrease between 1 and 3%!

What about the GDP growth in Spain for 2023 and 2024?

The FMI predicts that Spain will have strong GDP growth in 2023 and 2024: 1.1% and 2.4%.

Are we at risk of a big property price decrease as in 2008?

Are we in a real estate bubble in Spain?

Many experts don’t think so as:

• The portion of real estate vs income is not excessive for most Spaniards
• Leverage is not excessive
• Building companies have less leverage
• The number of new build properties coming to the market is not excessive.

Here is another article to read more on that: Are we in a property bubble in Spain?

So, the short answer is no, we are not at risk of a big price decrease, as long as the economy remains stable, as current property prices in Spain are not overextended. Read our quarterly report for more on that: Spanish property prices remain very competitive vs other international markets.

The biggest risks we see for the time being are:

• Central banks in the world are aggressively raising short-term interest rates: the Fed, the ECB,…
• Long-term interest rates are spiking
• Inflation is spiking everywhere in the world central banks are fitting it.
• The Chinese economy is dependent on its management of Covid, its real estate sector and its slowing economy.
• Consumers are squeezed worldwide with high inflation numbers.

The positive data for the Spanish real estate markets are:

• property prices are not too expensive in Spain vs international real estate markets,
• mortgages rates are much lower than current inflation rates
• real estate could be a good hedge against inflation for investors.
• we see Spain having a long-term competitive hedge in this environment of high energy prices.

Why are the long-term prospects for the real estate market in Spain strong?

• Not enough properties are available on the rental market as Spain is an “Owner” country with more than 75% of Spaniards owning their home.
• With inflation rising, construction costs are on the rise and supply won’t easily come
• Most of the properties in Spain are old and some need renovation works, which means a delay to have those back on the market
• Real estate prices in Spain are not too expensive, read our quarterly report on Spanish property prices for more on that.
• With the energy crisis in Europe, Spain is one of the European countries with the lowest costs for utilities in Europe, as we told you in our article, we think that this will remain the case in the future, so, the Spanish economy should remain stronger than many European countries. This will provide strong support to the real estate market. We could even see some relocations of companies toward Spain in the future.
• Buy-to-let in Spain provides a nice return for investors.

Newbuild vs resale in 2023?

We don’t expect huge discounts for real estate buyers but yes, cash buyers should get discounts on resale projects and they should negotiate before writing an offer. We don’t expect huge discounts for newbuild – we have some special offers on newbuild properties from our partners, just ask us directly – as construction costs are higher and the Spanish housing market is healthy and not oversupplied as it was in 2008. Some regions could have more newbuild supplies which could give opportunities for buyers.

A new long-term trend favouring Spain!

Spain has many competitive edges over other EU countries:

• Low cost of Utilities: Electricity and Gas prices compare in favour of Spain vs nearly every country in Europe. Have a look at our detailed article for more on that subject: the cost of utilities in Spain is up to 75% cheaper than in other European countries.
• Spain is a leading country in terms of renewable energy: Spain has already 50% of its energy from renewable sources and wants to reach 100% by 2050.
• Qualified labour at a low cost

All those will be big edges for Spain in the long term and could transform Spain into one of the biggest economic and industrial powerhouses in Europe.

The IMF shares our view and published in a November report that Spain’s Economic growth is projected to reach 4.6 per cent in 2022 and 1.2 per cent in 2023. This put Spain one of the top-growing country in Europe.

That is why we think that the real estate market in Spain will on one end suffer from less demand from Spaniards and foreigners due to the slower economic activity in Europe. But, on the other hand, if we compare the Spanish property market to international markets, if we see where it is now, under €1,800 per square meter, and if we add the short-term and long-term advantages of Spain, we think that the Spanish real estate market will stay stronger than the European average.

For real estate investors, as we don’t see inflation vanishing quickly mortgage rates are very competitive in this inflationary environment and indexation of rents to inflation could water down inflation effects (not 100% as those are limited by the government). But, that’s not bad in a difficult economic environment.

For more on mortgage financing, have a look at our article: “Fixed or variable mortgage for my Spanish home?“

The 2023 Spanish property market forecast from our local experts

We asked our partners to give some colours to their local property markets. This is very interesting as they have knowledge of the market and see daily what is going on. Here is the feedback on Madrid, the Costa Blanca, the Costa Daurada and the Canaries. This section will be updated later on if we get more feedback. You can find all our local Spanish property hunters members of our network by following the link.

The 2023 forecast for Madrid real estate market

We discussed this with Agnes one of our local property hunter in Madrid.

Are foreigners active in the real estate market in Madrid as of the end of 2022?

Foreign buyers, especially those who have their savings or incomes in USD, have increased their demand for both investment properties and second homes in Madrid, presumably because the EUR/USD exchange rate is very favourable for them right now, and mortgage rates are still lower in Spain than in the US.

Yes indeed, we pointed out this trend earlier on this year with Agnes: Americans are buying property in Madrid at a 20% discount.

Are Spaniards more or less active in Madrid?

National buyers who have enough savings for the downpayment have also shown an increased interest in completing their purchase this year, as it seems very likely that interest rates on mortgages will keep going up for some time, whilst decreases in prices of properties are not certain at all.

I believe that small investors who would be purchasing without a mortgage are cautious, holding off to see if there is really a recession next year and hoping they can get better deals in a few months than today.

What is the 2023 outlook for the Madrid property market?

On one hand, if mortgage rates keep increasing some buyers will not be able to buy, so part of the demand will decrease. On the other hand, if inflation rates are persistently high, people with savings will likely look towards the real estate market as a refuge, increasing demand for investment-oriented purchases. Price fluctuations will most likely not be consistent throughout neighbourhoods and property types. For example, unless there is a serious worldwide crisis, it seems unlikely prime properties’ prices will drop significantly because they might still be propped up by foreign demand and by national buyers with high purchasing power who are not stretching their budget to the limit and therefore are not so affected by higher mortgage rates.

The major risk is the “unknown” factor, such as when the covid pandemic appeared out of the blue: we don’t know what we don’t know! A possible positive surprise could be the inflation petering out sooner than expected.

Have a look at the full profile of our property hunter in Madrid Agnes here and check the last property she bought for her customers.

 

The Costa Brava 2023 real estate outlook

Séverine, our local property hunter in Costa Brava, gave her analysis on the Costa Brava.

What is the current activity on the property market in Costa Brava?

It is true that with the current climate, inflation, rising fuel prices, and the significant rise in interest rates, buyers want to know what the crisis in Spain really means. The crisis is undeniable and is disrupting the Spanish property market but in what way? It is quite heterogeneous depending on the type of product and the region. The big cities are particularly affected for purchases of main residences. On the other hand, the effects on the purchase of second homes are less noticeable, especially in areas that have always been in high demand, such as the Costa Brava and the Costa del Sol. We are writing this article in December 2022, and so far we have not seen any significant drop in prices. It is a very tight market due to the high demand and the limited number of properties on the market. The crisis is softening this contrast slightly, but prices are not falling and are tending to stabilise after the sharp increases post COVID (around +20% over a period of one and a half years).

What is the 2023 outlook for the property market in Costa Brava?

For 2023 we remain very confident about the market on the Costa Brava. With still a lot of demand from abroad, still mainly from Europeans, but also with the strength of the dollar, the return of Americans.

The latest purchase of Séverine in Costa Brava for one HTBIS customer?

Our latest sale is a very nice house in the chic area of s’Agaro located between Playa de aro and St feliu de Guixols. With a list price of 469,000 and a final price negotiated at 450,000 for a European family. This is a house located in a residence with few co-owners, with garden and swimming pool, ideally placed at 5 minutes walk from the beach and shops.

The objective for this family is to spend their holidays there but why not to live there in a few years. The search for a healthy and well-frequented neighbourhood was important!

Congratulations Séverine and team on this last deal, another happy customer of HTBIS. As we always say: a local property hunter means, a quicker process with fewer risks and savings.

Have a look at the full profile of Séverine our property hunter in Girona and the Costa Brava here and check the last property she bought for her customers.

Read more: the six reasons why working with a property hunter in Spain.

 

Find all our best Spanish Costas infographics: Costa Brava, Costa del Sol, Costa Blanca, Costa Barcelona, Balearic Islands, Canary Islands,…

The Costa Blanca 2023 real estate forecast

Valérie wrote this feedback, she is our local property hunter in Costa Blanca.

What is the current activity on the property market in Costa Blanca?

Economic crises do not always have the same impact on the property market. The Costa Blanca is a very popular area for Belgians and English speakers. This area, which stretches from Denia to Horadada, offers less expensive products than the Costa Brava or the Costa del sol. Its main airport in Elche, next to Alicante, provides direct connections from the main European airports, and its well-developed rail network with direct lines from Madrid ensures a continuous flow of traffic and a certain economic dynamism. The demand comes largely from foreign investors, mainly European, but its proximity to Madrid also generates domestic demand.

What is the 2023 outlook for the property market in Costa Blanca?

We expect the market to hold up. On the other hand, we believe that there may be opportunities in the new build sector. New developments (houses and flats), particularly in the south of Alicante, have reached a certain peak in recent years and we are therefore waiting to see the movements in this property sector where real opportunities will be available over the winter. These new buildings provide interesting energy certificates, which have become even more attractive since the energy crisis, and remain secure investments.

What is the current activity on the property market in Costa Dorada?

Before discussing the effects of the economic crisis and the outlook for 2023, it should be remembered that the Costa Dorada stretches from the south of Barcelona to the entire coast of the province of Tarragona. Unlike the Costa Brava or the Costa del Sol, it is frequented by a majority of urban Spaniards from Barcelona, Zaragoza or Madrid who have second homes there. Here the impact of the crisis will be felt more because a majority of Spaniards have borrowed at variable rates and the sudden and sharp increase in these rates will certainly push some owners to sell their second home in order to offset inflation.

What is the 2023 outlook for the property market in Costa Dorada?

This is a market that has been very popular during the covid and a drop in prices in this sector will be all the more welcome for future buyers.

The latest purchase of Sabine in Costa Dorada for one of Howtobuyinspain.com’s customers?

Our latest sale is in L’Ampolla, in the Ebro Delta. This is a less built up and wilder area than the south of Barcelona, but still only 1.5 hours from the main city. Our clients were looking for a house to buy and to invest in, and the search was not easy as many criteria were required. In the end we found them a house with a back to back aspect, 5 minutes walk from the beaches in a quiet and well frequented residential area, with 2 bedrooms. The house is in immaculate condition and therefore needs no work inside, and the low price will allow the new buyers to build a small swimming pool to maximise rental income next summer.

Why the Spanish property market will stay at the top spot for foreigners?

As foreigners are cash buyers 90% of the time, and even when they ask for a mortgage, most of the time it is a small part of the property’s value, so the increase in rates will have a smaller impact on foreigners but yes, foreigners will hesitate more before buying a property in a foreign country as the economic activity will be weaker in the short term.

Here are other positives that will keep foreigners active in 2023:

• Thanks to homeworking, a new major trend is active in any real estate market in the world: people leaving city centres for suburbs and second-tier cities. Relocate to Spain: Spain is one of the best countries in the world for relocating & working remotely
• Spain’s major cities compare very well with European major cities in terms of quality of life and cost of living. Discover the cheapest and most expensive cities to live in in Spain and compare them with any city in the world.
• Spain offers more space for less and so, it is easy for foreigners to upgrade from where they are now.
• All our partners, everywhere in Spain had a very busy year in 2022: lawyers, developers, property hunters,… It was really impressive.
• Spanish property prices remain very competitive vs other international markets.
• Mortgage rates remain cheap in Spain if you compare it to inflation, mortgages are much much lower and that means that it remains interesting to take a mortgage to hedge this inflation risk.

• Transactions’ volumes are strong in 2022 across all the Spanish local markets: rising by more than 20% getting back to pre-covid levels (and a little bit more).
• Activity was at the highest since 2007 and both Spaniards and foreigners are active, which means the trend is broad-based and not only in certain areas.
• Foreigners activity is back to the same levels it was “pre-Covid” era.
• Real estate market in Spain is strong: Have a look at our detailed quarterly report with all the prices’ evolution for the top 20 Spanish cities: Spanish quarterly property report.
• We note that the major cities are back to their pre-Covid levels: Barcelona, Madrid,…
• Second-tier Spanish cities all over Spain are rising the most while staying cheaper than the national average
• Inflation is rising everywhere in the world… This means that every day, currencies lose their value. So, one of the best hedges against inflation is holding “real assets”. There are not a lot of alternatives if you want to protect your savings against inflation. One other move could be for people to relocate towards Spain as Spain has a much lower cost of living (even more since the energy crisis).
• The rise in raw material prices has resulted in a more than 10% increase in production costs over the last two years. This will increase the prices of the new building developments and reduce supply in the long term.
• New build properties are not in oversupply: on the contrary, it remains under control and demand was strong in 2022.

The 2023 outlook from other real estate experts

• The bank of Spain predicts a return of 10% for the Spanish real estate market
• BBVA Research forecasts a slight contraction in home sales in 2023 and a 2% price increase in Spain. “BBVA Research prevé una ligera contracción de las ventas de vivienda en 2023 y un incremento del precio del 2% en España“
• ING predicts some weaker performance for the real estate market in Spain with a decrease of -3,4%, «el crecimiento real de los precios el próximo año será negativo (-3,4%)»
• Fitch, the credit rating company, foresees further growth between 2 and 4% for Spanish real estate in 2023. In fact, Fitch expects price increases for two countries in Europe in 2023: Spain and Italy.

How to find your ideal Spanish property?

We need to differentiate locals from foreigners.

Let’s start first with foreigners. Foreigners are searching either for a second home or a place to retire.

What are the property criteria demanded by foreigners in a post-Covid-19 world?

• close to the beach,
• maximum a one-hour drive from an airport,
• more rooms and a bigger property as foreigners will be more often at their second home,
• some private outside space: terrace, garden, a pool,
• close to sports and children’s facilities,
• restaurants and shops nearby,
• a nice view,
• not too far from the city centre, but not inside!

Discover newbuild properties meeting those criteria from our partners or ask one of our property hunters to search for your dream property anywhere in Spain, we have a local hunter!

Have a look at our interesting articles on the subject: Our ultimate guide to buying your property in Spain is our major guide on the subject but you can find dedicated articles as well:

• Where are the best places to buy a property in Spain?
• The best search tips for buying your Spanish property
• The 7 pitfalls of buying a property in Spain and how to save on your property purchase
• Buying your holiday home in Spain? Get our 40 tips
• Your ideal investment property in Spain: 58 tips to find it
• The best 44 tips for finding your ideal home to retire to Spain

Looking for a local property hunter, a local lawyer, … any real estate expert in Spain? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

FAQ on the subject

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