The Property Market Spain Post COVID

After an extremely positive start of 2020, the property market in Spain with increased house prices and significant numbers for property investors but the market trends ended in a rather abrupt fashion along with most other businesses across the country and the rest of Europe due to the coronavirus pandemic and Spanish property sales had taken a big hit.

 With the implantation of a strict lockdown and enforced inactivity some feared a serious economic crisis and freefall of property values was being talked about but this did not happen, on the contrary and for many had not of expected that what would follow was in fact a significant increase in enquires from potential property buyers.

The fear and predicted recession and crashing property prices after having a three month lockdown period and for some who thought it would take another year before seeing any significant increase in the market where instead a surprise increase of enquires and a spike of sales during the months that followed with the gradual return to normal with streets café and restaurants filling along with offices shops, malls and beaches.

The covid crisis has of course seen consequences and failure in many business sectors as second wave continued but in the interim the return from the closure of most businesses felt more like a soft landing than a bumpy ride. For the property agents in Spain it was far from it the real estate professionals we spoke with all report a surprisingly high level of interest among potential homebuyers across northern Europe. Interest in property from low cost apartments to luxury villas Spain was seeing a general uplift of interest that was actually being developed from the fallout of the covid crisis.

A strong revival in the demand for what the Spain has to offer, fantastic lifestyle, space greenery and an appealing climate as well as a healthy coastal setting close to nature and away from large urban cities. 

It seems that the confinement experience has awoken with many having the desire to improve their quality of life and have a pleasant living and for some a working environment as now it has developed that living in Spain is not just for the retired. Should the corona virus or any other catastrophe occur and cause a prolonged upheaval like one has seen during 2020 then a change to move abroad is becoming a reality for many who see the benefits far out way those of staying where they are.

THERE HAS BEEN A SHARP INCREASE OF SALES MADE BY USING MODERN REMOTE TECHNOLOGY 

A high number of actual sales were also reported without the need for an actual physical viewing which has stunned the market as this had not been experienced in such numbers ever before. The buying process recently changed using modern online tools such as virtual tours, videos and conference meeting applications. During the covid lockdown potential property buyers were able to take part in regular discussion and use the additional time in a productive way. This produced a significant increase in the number of enquires during 2020 and is expected to continue during the start of 2021 until the spring until travel and the new normality is taking place. The trend of using digital means of communication has become part of the everyday life to more and more who perhaps in the past had not had the need, now may have moved into a more digital age. The same with seeing the trend of shopping online and many other advantages of being in a digital age 2020 has taught the world that life goes on and that it can be made much more accessible digitally than one would have thought about.

Those that have decided to shop online for a new home in Spain People were looking in general for property that provides space, views and privacy, with proximity to both nature and amenities. 

The Spanish property market marked a new trend, with the importance being given to being able to achieve a healthy lifestyle and being able to work from home with either a room dedicated to an office. A high demand from buyers from across northern Europe with people who are looking for apartments with sizeable terrace and villas with a good size manageable garden. Besides the demand for gardens and spacious private areas with good views, close proximity to both services and open nature people are rethinking the home work relationship and are clearly keen to combine the two in a more flexible manner that doesn’t involve working from an office environment and being able to working remotely from your home in the sun is now not a dream but a reality that has already been born from the lifestyle changes forced by having the expericance of the covid pandemic. 

Off plan design structures are also very much in demand with interest from medium aged professionals who want to spend part or all of the year in Spain so not just for holidays but for living as part of their normal life and working lifestyle.

A new age of living a better life as well as being able to work from home literally from where home may end up being.

Property buyers looking for a home overseas are keeping the idea of being in a warmer and more healthy environment at the top of their list, the present moment in a new year 2021 seems to be offering the new opportunity for many that want to change their living, working and general lifestyle in a way that they may had never of thought of before and that the corona virus age of 2020 has opened the mid set of many that have re-evaluated their priorities and opt for the characteristics that have always made Spain special and attractive to thousands of people from all over Europe, now it seems the time is even more important to make changes so 2021 maybe the right time for you?

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