3 reasons why 2022 will be an epic year for Sotogrande property
You might imagine that an organisation like ourselves at BM Sotogrande will always be telling you to buy, sell, rent, or let out Sotogrande property – after all, it is simply our business, right?
That may be so, but there are also some genuine reasons to look differently upon the prospects for Sotogrande property in 2022, compared to might have been the case over the last few years. And those factors have been cited by relatively impartial property experts – not just estate agents!
The continued coronavirus recovery
Yes, we’re all tired of still talking about the COVID-19 pandemic by now – but its inclusion in this list isn’t merely down to general psychological fatigue and a feeling of “let’s just get on with it”.
Indeed, with many of the rules previously put in place to limit the spread of the virus now having been loosened, and vaccination rates high in Spain and across Europe, it looks like we really are approaching a time when populations can broadly “live with” COVID-19.
Such rising optimism is being shown by those who have recently decided to make their move in the Sotogrande property market, after what might have been years of hesitation for them amid pandemic-related uncertainty.
The tightening supply of Sotogrande property
The release of pent-up demand for property in this highly prestigious area of Andalucia brought about with the lifting of COVID-19 restrictions, has also exerted pressure on the availability of properties in and around the locality.
Of course, Sotogrande has always been known for its high level of exclusivity anyway, as demonstrated by various national and international celebrities and elites being routinely spotted here.
But reports have increasingly filtered through lately suggesting that much of the surplus of new properties that may have arisen amid the uncertainty of the coronavirus pandemic, has now been snapped up. Estate agents are now talking more and more about tighter supply of Sotogrande property – so if you are looking to buy, doing so now may be better than doing so later.
The regional property market fared better than expected at the height of the COVID-19 crisis
“If the property market has done this well even in a time of crisis, how well will it do once we’re no longer in crisis?” That’s a question many property specialists and observers have been asking themselves lately, as COVID-19 rules continue to be lightened or removed altogether.
The well-known expert on the Spanish property sector, Mark Stücklin, for instance, recently admitted that he had expected the pandemic to “put the market on a ventilator for at least a year, rather than recover in the second half of 2020, and roar upwards in 2021, which is what happened.”
Stücklin pointed out that in Andalucia specifically, sales went up by more than 40% last year, and were even 23% up on 2019’s figure. Andalucian property prices, meanwhile, saw an 8% increase during 2021 compared to 2020, and a 7.5% rise on the values seen in 2019.
These are utterly stellar figures for the property market in Spain, and they invite questions of what might be possible once the coronavirus ‘leash’ on the market has been more fully loosened, as we would expect to occur in 2022 and beyond.
Are you ready to talk to trusted experts about what could be possible for your own involvement in the Sotogrande property sector this year? If so, now is the time to get in touch with the BM Sotogrande team; we would be delighted to hear from you.