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16 Mar, 2021 @ 18:30
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1 min read

Bouncing back: The fastest growing regions in Spain for property sales

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Property value WEB

SPAIN’S tourism hotspots and quiet inland areas are leading a recovery from a COVID-19 plunge in property sales.

While the real estate market was paralysed for much of 2020, the final quarter so a bounce-back in transactions, with 10% involving foreign buyers, according to the Spanish National Statistics Institute (INE).

These figures showed that the highest growth levels were mainly coastal and countryside regions with people seeking more open space.

By contrast,inland cities – Madrid excepted – suffered the most. INE stats showed that by province property sales grew most in Alicante, Malaga, Almeria, Guadalajara and Girona.

Market is starting to recover

The holiday regions of  the Costa Blanca, Costa del Sol and the Costa Brava were especially popular.

Overall, real estate transactions in Spain grew during the last quarter of 2020, with 113,799 sales, up 11.35% on the previous quarter. These were still down on the number of sales pre the coronavirus pandemic.

The most significant increases in Spanish regions were recorded in Galicia (31.00%), Castile and Leon (19.01%) and Cantabria (16.26%), while the greatest number of sales were recorded in Andalucia, (22,770), Catalonia and the Costa Brava (17,513 sales), Valencia (16,404) and the Community of Madrid (15,304).

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When it came to international buyers, the Balearics led the way, with a third (32.65%) of all transactions in the last quarter of 2020 accounted for by foreigners.

Next most popular for international buyers was the Canary Islands (22.54%)and then Valencia n with 21.68% and Murcia (19.35%).

British buyers maintained their position as the biggest sector amongst international buyers, followed by French and German expats.

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Dilip Kuner

Dilip Kuner is a NCTJ-trained journalist whose first job was on the Folkestone Herald as a trainee in 1988.
He worked up the ladder to be chief reporter and sub editor on the Hastings Observer and later news editor on the Bridlington Free Press.
At the time of the first Gulf War he started working for the Sunday Mirror, covering news stories as diverse as Mick Jagger’s wedding to Jerry Hall (a scoop gleaned at the bar at Heathrow Airport) to massive rent rises at the ‘feudal village’ of Princess Diana’s childhood home of Althorp Park.
In 1994 he decided to move to Spain with his girlfriend (now wife) and brought up three children here.
He initially worked in restaurants with his father, before rejoining the media world in 2013, working in the local press before becoming a copywriter for international firms including Accenture, as well as within a well-known local marketing agency.
He joined the Olive Press as a self-employed journalist during the pandemic lock-down, becoming news editor a few months later.
Since then he has overseen the news desk and production of all six print editions of the Olive Press and had stories published in UK national newspapers and appeared on Sky News.

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