Much has been made of how the COVID-19 situation has upended typical working practices, with particular consequences for the popularity of remote working. But could the heightened tendency for great numbers of people to work away from the traditional office over the last year and a half, also translate into different long-term choices when it comes to the property we buy and rent?
This is the prospect raised by a recent article that caught our eye from the Express newspaper, which stated that “sun-loving Brits are racing to buy Spanish property once more, as the dream of owning a second home in the sun becomes a reality again.”
Britons are being drawn to Spain as a home-working base
In its article, the British newspaper referred to a house builder that it said had taken more reservations for Spanish property during September this year that it had seen in any September since the business was founded in 1958. Reservation numbers were three times the level seen in September 2019, the last “normal” September prior to the pandemic.
The article cited the firm’s sales and marketing director attributing the surging demand in part to would-be second-home buyers from the UK, adding that Britons were taking advantage of loosened travel restrictions.
The quoted individual added, however, that the home-working revolution was also driving the trend: “Many Brits are now free to work from home and if they buy a property in Spain, they can do so with even greater geographical flexibility than before.”
The figures are all pointing to Spanish property being strongly sought-after
The above dynamics, of course, can also be applied to would-be buyers of property in Spain from anywhere in the world. Furthermore, statistics elsewhere continue to show that whatever may be behind such trends, the all-round Spanish property market remains in strong health.
Indeed, prospective buyers or current owners of Sotogrande property may be particularly intrigued to learn that according to recently released data from one property portal, Andalucia is the Spanish autonomous community for which the highest price rises have been recorded over the last two years. While properties in the region were priced at an average of €1,599 per square metre in June 2019, this has since jumped to €1,766 per square metre.
A recent EuroWeekly News report, meanwhile, suggested that rental prices in Andalucia had gone up to an average of €7.05 per square metre over the last 18 months.
Whether, then, you are interested in purchasing Sotogrande property for investment or lifestyle reasons, there is reason to act now – rather than later – to beat what are likely to be continued price rises as Spain gradually emerges from the pandemic. If you would like our professionals to assist you in doing just that, why not reach out to the BM Sotogrande team today?