Our first report of 2020 looks at the 2019 market trends and we offer our predictions for the 2020 increase costs of purchasing a property in Spain.
If Brexit had cause for concern in 2019 then you needn’t give it too much Creedence as there were no signs of any impact on the reports that international buyers had stopped buying homes in the sun. In fact, a report from Kyero shows that the buyer figures were increased by some 40% year on year https://www.kyero.com/join/en/market- reports/quarterly-international-buyer-trends-q4-2019
Now the UK has left the European Union it has until the end of 2020 to get a deal sorted, this allows plenty of time for us all to get sorted with the necessary legal requirements and therefore we expect house prices to keep increasing throughout 2020. This information is in line with recent reports, so great news for real estate agents and home buyers.
Andalucia shows a growth of some 6% Resale properties playing approximately 4% of the growth, this proves international buyers are still looking to play a large part in the economy of the Spanish mainland and islands.
What does this mean for property buyers?
Well, for sure property is on the up price-wise, but let’s not panic as the growth has had a knock-on effect with developers building more properties than ever to take advantage of the improved markets. All said and done it’s a good time to buy as prices are only going one way, there are still some great deals on well-priced apartments that fit into a budget for most but be assured they won’t always be around for us to snap up.