How Did The Pandemic Affect The Spanish Housing Market In 2021?

The pandemic has changed all spheres of human life, including the approach to finding housing. In this matter, the Spanish real estate market is no exception. Spain was significantly more dependent on foreign tourism than other countries of the Mediterranean basin. A lot of citizens of other countries who visited here for the first time returned to buy a house in Spain both for rest during the holiday season and for permanent residence. 

The complete closure of borders and the introduction of quarantine measures in mid-March prevented the stable development of the market, which has taken place since September 2017. During this period, the average cost per square meter of housing in Spain increased from 1,534 to 1,758 euros, and by December 2020 reached 1,779 euros. 

The source wants to tell its readers about what is going on in the housing market and what type of housing was popular in 2021, as well as what trends to expect in 2022.

Trends in buying real estate in Spain in 2021

Natural lighting, smart layout, better division of living and working space, private terrace, balcony or garden, and most importantly – more free living space. These are the major parameters that buyers of real estate in Spain are looking for.

Other significant aspects of any property are parking spaces, public transport stops within walking distance, and proximity to work or school.

Another important aspect is recreation zones: park areas, embankments, etc. Now it is crucial for people to be close to nature and have free access to all the benefits of the city.

New buying trends: preferences of Spaniards and expats

The pandemic has changed the preferences of Spaniards and emigrants. When it comes to buying a home in Spain, they prefer comfortable residential areas to the city center, and also look for as much natural light as possible in their homes.

According to market analysts, in the year and a half since the beginning of the pandemic, priorities have been formed to influence demand and the market. Therefore, it makes sense to believe that the current preferences of buyers will remain in 2022 and subsequent years.

To date, developers identify two main motivations that guide Spanish real estate buyers:

  1. The house no longer meets the needs;
  2. The overall financial situation has improved.

For many potential buyers, the issue of expanding the space is a priority: due to the remote format of work, there is a need to organize the workspace and divide the living area. Either because they realized that they would prefer to live in a bigger house, as they spend more time in it.

Moreover, Spaniards began to show interest in completely different types of real estate and in completely different places. Thus, spacious single-family homes far from the center – in the countryside or on the coast, with a private plot or a spacious terrace – have become in great demand.

At the same time, the main requirements are green areas, low population density, all necessary infrastructure, the energy efficiency of buildings, and environmentally friendly materials for exterior and interior decoration.

Profitable real estate in Spain on Spain-Real.Estate

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