A more than 40% increase seen in the numbers of foreigners purchasing property in Spain
If any further evidence was needed of the extent to which the market for Spanish property has bounced back emphatically since the lifting of coronavirus restrictions, it has certainly been provided by new statistics showing a massive jump in property purchases by foreigners in the space of just a year.
As reported by several sources including Spanish News Today, a 41.9% increase in such property purchases was recorded in the second half of 2021, compared to the situation a year earlier.
And Andalucia – where plenty of luxurious and attractive Sotogrande property can be found – fared even more strongly than the national average, the autonomous community seeing a 55% jump in property acquisitions by those from other countries during that period.
An extremely encouraging time to be involved in Sotogrande property
Drilling down into the figures, the period from July to December 2021 saw 63,934 properties purchased by non-Spaniards in Spain. It meant that property transactions in the country involving foreign buyers made up nearly a fifth (18.6%) of the total sales and purchases, which was almost exactly the same as the average of 18.7% seen for the 2012 to 2019 period.
It must be acknowledged, of course, that the COVID-19 pandemic had a serious impact on the numbers of people from overseas completing Spanish property purchases during 2020. This is hardly surprising, given the travel restrictions and other rules imposed that year in order to minimise the spread of the virus.
These figures for 2021, then, should serve as encouraging confirmation to owners and would-be sellers and buyers of Sotogrande property, that last year really was a year of sterling recovery in the Spanish property sector, instead of merely a repetition of 2020.
So, what nationalities are most strongly represented among the buyers of Spanish homes?
According to the Spanish News Today report, it was the British who made up the largest group of foreigners acquiring homes in Spain in the last six months of 2021; they accounted for some 7,560 transactions, which works out as 11.8% of the total.
That’s a heartening sign that the long-worried-about disruption of Brexit didn’t materialise to quite the extent initially feared, at least as far as Britons’ determination and ability to acquire Spanish property was concerned.
However, other nationalities weren’t very far behind. The Germans accounted for 10.4% of the total – enough to take second place – while the French made up 8.3%.
It is also interesting to note that purchases of Spanish homes by foreigners increased for all nationalities during the second half of 2021. It was the Dutch that saw the greatest rise in this regard – 104.1% – followed by the Irish, with 99.3%, and the Germans’ 84.9% increase.
Finally, as far as average prices per square metre were concerned, buyers from Sweden paid the most – €2,752, in fact. Following shortly behind were the Danes, who forked out €2,750, and the €2,741 paid by the Germans.
The past year, then, has brought lots of positives for the Sotogrande property market. And with the prices for homes in this part of Andalucia historically tending to hold up well even during times of economic uncertainty, you could be making a great choice if you do follow in the footsteps of these many thousands of foreign buyers during 2022.
Why not enquire to the BM Sotogrande team today, to find out more about how we could help you realise the dream of Sotogrande property ownership, or assist you in selling your existing home in this fabulously picturesque and sun-drenched locality on the Costa del Sol?