Spain ‘one of Europe’s top countries for property investment in 2023’
Readers of the BM Sotogrande blog who have been perusing the latest Sotogrande property listings, but have been unsure of when to make their move, might be interested to read of a new study that ranked Spain as the fourth most attractive European country in which to invest in 2023.
European digital news outlet The Local cited a global real estate group’s “investor intentions survey” for the coming year as showing that Spain is one of the finest nations across the continent in which to invest in 2023 – behind only the UK, Germany, and France.
That fourth place is an improvement by three positions on what the country achieved in the equivalent survey the previous year, which serves as another indication that the Spanish property market continues to be in fine form.
Impressive property sales figures make it unsurprising that Spain is being looked on so positively
Of course, it might not be current market conditions alone that are inspiring your interest in the potential purchase of Sotogrande property. After all, this part of the Costa del Sol has been a magnet for property investors for decades, on account of factors ranging from its reliably Mediterranean climate to its excellent leisure, sporting, and dining opportunities.
However, the wider regional and national property sector looking good might be a very pleasant ‘sweetener’ if you are still deciding whether to buy such a home right now.
It could be heartening news to you, then, that according to a recent report by expatriate newspaper The Olive Press, residential property sales in Spain as a whole went up by 6.1% during 2022. This brought the total number of units sold – 719,680 – to its highest level for 15 years, as set out by the General Council of Notaries.
The report detailed further encouraging statistics on top of that, including prices having increased by 7.2% over the course of the year compared to 2021, and the granting of new mortgages to purchase a home having climbed by 2.8% on a year-on-year basis in 2022.
Looking at the regional picture, home purchase transactions rose by 5.4% in Andalucia, further underlining the region’s sustained status as one of the places in southern Europe in which to buy a desirable abode.
All in all, then, there seems to be a lot of excellent reasons to invest in Spain – and certainly Sotogrande property – during the year ahead. To find out more about how our team at BM Sotogrande could assist if you decide 2023 is the moment to snap up Sotogrande real estate, please feel free to reach out to us by phone, email, or in person at our Pueblo Nuevo offices.
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