The Spanish property market is currently experiencing a real investment ‘boom’. The record year of 2021 in terms of the number of transactions has only just come to an end, and already we have further data showing that demand for property throughout Spain, as well as in Andalusia, is growing steadily!
Grand opening!
2022 continues the upward trend seen during the preceding 12 months. New statistics show that between January and March of the ongoing year alone, more than 164,000 residential property purchase transactions were concluded across Spain! This is the best result since the beginning of 2008, i.e. in 14 years. This year’s property market performance has surpassed the achievements of the third quarter of 2021, when a record volume of 155,000 concluded transactions was recorded.
The year-on-year results confirm even more strongly the favourable market dynamics. In total, almost 600,000 houses and flats have been purchased in Spain in the last 12 months, which means that the situation in the property market is now even better than before the pandemic, when sales slightly exceeded the barrier of 520,000 transactions.
Andalusia at the head of the peloton!
Traditionally, Andalusia has played a huge role in the Spanish property market’s excellent performance. Between January and March 2022 alone, a total of more than 34,000 property sales contracts were registered in its territory, representing a 20% market share.
From the point of view of Agnes Inversiones, the leading Polish real estate agency operating on the south coast of Spain, the performance figures for the various Spanish provinces are very interesting. The statistics from the Registradores de España confirm the observations we have made, that properties in the province of Málaga are in great demand from investors. Between January and March of this year alone, the province of Málaga alone managed a total of more than 10,000 purchase transactions, the 4th highest in the country! Only Madrid (22,000), Barcelona (16,000) and Alicante (12,000) can boast better results.
Poles in the lead
Property in Spain is attracting interest from investors from all regions of the world. The share of foreigners in the Spanish property market has risen again and has reached more than 13% over the last three months, while the nation with the largest share has traditionally been the British (12%).
Investment in luxury houses and flats in Spain is also attracting Poles. According to the data collected, Polish nationals accounted for more than 2% of purchases by foreigners in the first quarter of 2022.
The number of transactions and declarations from investors approaching Agnes Inversiones, is a definite confirmation of the fact that investments in luxury goods such as properties in Marbella or Estepona have become an attractive alternative for Poles, diversifying their investment portfolio.
Andalusia – a dream place to live
Why so much interest in the southern part of Spain? Andalusia is a highly cosmopolitan autonomy where everyone feels at ease. When you combine this with the cultural richness, the excellent range of properties for sale and for rent, the prestige of places like Marbella, the wonderful Mediterranean cuisine and the relaxed pace of life, it is no wonder that this region is considered one of the best places to live.
If you would like to find out more about living in Spain, then please feel free to read our other blog posts, or contact Agnes Inversiones directly. We will be happy to help you satisfy your curiosity about living conditions on the Costa del Sol and find a house offer in Marbella that meets your needs.
