The real estate sector remains attractive for foreign investors. Despite the mobility restrictions caused by the pandemic, which have slowed down other sectors such as international tourism in Spain, during the first quarter of 2021, foreign purchases and sales have already accounted for 9.72% of the total, according to data from the Association of Registrars.
These data prove that the pandemic has not undermined the interest of non-residents, who between 2009 and 2019, increased the number of transactions by up to 200%. Usually attracted by factors such as the good climate, teleworking or hybrid work formulas make it even easier to move to live in Spain.
Indeed, according to the 8th Real Estate Barometer report: ‘The market sentiment of real estate professionals’, carried out by UCI (Unión de Créditos Inmobiliarios), an entity specialising in sustainable housing finance, and its professional development area, SIRA, six out of 10 real estate professionals point to stability and moderate growth in property purchase and sale transactions by foreign clients in the second quarter of 2021. While in June 2020, these transactions had fallen by more than 20%, in the same period this year, they are close to pre-pandemic levels and they expect this positive trend to continue in the coming months.
With the Balearic Islands in the lead, the Canary Islands, the Valencian Community, Murcia and Andalusia are positioned in the top five autonomous regions with the most sales, where buyers demand a type of home where comfort and proximity to infrastructures and shopping areas prevail, according to data from the 8th Real Estate Barometer.
For real estate professionals, international buyers are not significantly interested in the energy efficiency of their future home; however, they do pay special attention to the quality of the building’s enclosures and insulating elements, such as windows and doors, and they value positively that the house has efficient lighting, heating and air conditioning systems. The use of renewable energies or home automation do not seem to have as much weight in their purchase decision.
