Property prices in Spain went up by 4.3% during 2021 – and there are further rises to come 

Do you require any further evidence of just what resurgent health the Spanish house market is in at the moment? If so, you only need to consider data recently released by the valuation firm Tinsa, indicating that the average price of new and used housing in the country is estimated to have gone up by 4.3% over the course of last year. 

It gets even better than that, though; forecasts by property experts in Spain – as reported by Spanish News Today – suggest that 2022 could see another 4% climb in the country’s house prices. 

Property purchase numbers ‘recovering to pre-crisis level’ 

It now feels like a very long time since the late 2000s global economic slowdown also led to a significant drop in the prices of many Spanish properties. 

In fact, CaixaBank forecasts – which draw upon data from January to November last year, the most recent such figures available – suggest that there were about 545,000 property purchases in Spain during 2021. The last time such healthy figures for property purchase transactions were seen in Spain, was just prior to the 2008 financial crisis. 

What’s more, even just looking to figures for the final quarter of 2021, house prices during that period were 8.6% higher than they had been during the equivalent period a year earlier. This indicates that Spanish house prices were climbing especially strongly in the last few months of the year – just the kind of thing many owners of Sotogrande property will wish to hear in early 2022. 

Cristina Arias, Tinsa Research Service director, commented: “The last quarter of 2021 saw an increase in residential market prices that consolidates the trend started in previous quarters and reflects an environment of growth in which demand is higher than supply and construction is beginning to reactivate cautiously, which could be indicative of an upward phase in the real estate cycle.” 

If, then, there is a time to buy Sotogrande property, it could be right now 

Would you like to hear more good news? Historically, Sotogrande property has shown an impressive robustness even compared to other parts of Spain, prices remaining high even during times of economic uncertainty. 

That – combined with the luxuriousness and sporting and leisure amenities that are distinctly Sotogrande – could make this exclusive development on the Costa del Sol a particularly alluring area of focus for your Spanish property search. 

Simply reach out to the BM Sotogrande team now, and whether you intend to acquire Sotogrande property for investment or lifestyle purposes – or for that matter, to sell, rent or let a home in this desirable part of the world – we will provide professional and friendly assistance. 

Blog Post 07/01/2022

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