Every year Engel & Völkers publishes the market report for Spain and Andorra, which reviews the trends and prices of the last year, as well as the estimate for 2022. It includes data from the communities of Madrid, Catalonia, Valencian Communities, Andalusia, and northern Spain, Balearic Islands, Canary Islands and Andorra.
The real estate market will maintain the dynamism that began in 2021, with sustained growth and far from new bubbles. Despite inflation and geopolitical tensions, the accumulated savings will continue to be allocated to housing and international investment will recover its space and will be one of the engines of the sector this year.
"The intense internal demand in the residential market and the gradual return of foreign buyers will keep Spanish real estate a very attractive sector for investment." In fact, "the housing market has shown atypical behavior after the pandemic, more dynamic than expected in a context of uncertainty and international deterioration", recalls Juan-Galo Macià, CEO for Spain, Portugal and Andorra.
The recovery registered in 2021 in both transactions and prices is explained by the evolution of household savings, which increased by 75,000 million euros in the 2020-21 period, compared to the over-indebtedness of the bubble era. The interest in changing homes in search of larger spaces and outdoor areas have modified purchasing patterns, adapting them to new priorities.
In the part of the Costa Brava, the presence of foreign buyers has gone from representing 55% in 2019 to 65% in 2021 with Germans (30%), French (30%), British (15%) and Benelux citizens. (fifteen%).
Palafrugell, Begur and Platja D´Aro reach prices above 4,000 euros/m² while the rest are between 3,000 and 2,200 euros/m².
The cost of property increased by 5% in Palafrugell and Begur, 4% in Baix Emporda and 3% in Platja d'Aro.
Houses from 250 to 350 m² and with three to four bedrooms are the most sought after in this area, except in Pals, Estartit and Escala, where the most requested are the 100 m² apartments with three bedrooms.
If you want to sell or buy a property on the Costa Brava, at Engel & Voelkers Costa Brava Sud we will be happy to help you.
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