It has been a busy and productive summer for great numbers of us, but also a heartening and potentially lucrative one – especially for many owners of property in Sotogrande! That is certainly the story told by the latest statistics from multiple trusted sources.
New figures from Spain’s General Council of Notaries, for instance, have shown that the month of July saw housing sales go up by 30.5% in Andalucia compared to a year earlier, outstripping the already impressive national average rise of 22.9%.
Meanwhile, according to the valuation firm Tinsa, Spanish house prices in August were 5.2% higher than they had been during the same month a year earlier. Along the Mediterranean coast specifically, the increase in property prices over that same period was even higher, at 6.1%.
Pleasing reading for those owning property in Sotogrande
Diving deeper into the Notaries’ figures, it was fascinating for us to see that in the time bracket between July 2020 and July 2021, apartment sales went up by 23.3%, alongside a 21.6% rise in the sales of single-family properties.
Property prices per square metre, meanwhile, heightened by 2.2% nationally, and again, the increase in Andalucia was some way north of this, at 9%.
Looking back to the data from Tinsa, the latest news means that house prices across Spain as a whole have now gone up for eight months in a row. The country’s average property price is now 3.3% above what it was at the onset of the coronavirus crisis in March 2020, in an illustration of how emphatically the Spanish property sector has bounced back from the worst of the pandemic.
Since the 2008 economic slowdown, property values in Spain have gone up by 21.7% on average. However, with prices in the country still 30.2% shy of those recorded immediately before the late 2000s recession hit, there’s also likely to be plentiful scope for further growth for those only just buying property in Sotogrande now.
We’ll help you realise your dreams in Sotogrande property – whatever they are!
Whatever the current nature of your involvement in the Spanish property market may be – indeed, if you yet have any involvement at all – our experts at BM Sotogrande stand ready to advise and assist you, so that you make only the most informed decisions.
Simply reach out to our team in Pueblo Nuevo today – whether via phone, email or in person – to learn more about the wide range of ways in which we can cater to your property needs.