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Why Spain is ideal for a second home.

23rd January 2020
Why Spain is ideal for a second home.

Why Spain is ideal for a second home.

 

The combination of sun, sea and beach makes Spain a very popular destination. Moreover, life there is about 30% cheaper than in France and Italy. Add to this the fact that property prices are much lower than in those countries, and it will come as no surprise that a second home in Spain is very popular.

In 2019, many Belgians bought an average house under the Spanish sun. In the last ten years, the number of houses bought has increased almost fivefold.

 

Interesting property prices

 

The prices for a house in Spain are lower than what you usually pay in other Mediterranean countries, such as France and Italy. This is a result of the Spanish real estate crisis, which has plagued the country between 2008 and 2013 and has reduced prices by more than 42%. Meanwhile, the market is recovering but prices are still 25 to 30% lower than in other countries.

 

Because of these interesting real estate prices, many real estate transactions were again recorded at the end of the year. Almost 500,000, the highest figure since 2007. Of all those transactions, almost 13% were carried out by foreign buyers.

 

A second stay in Spain is therefore very popular with Belgians. The Belgians have a preference for new-build homes.

 

However, due to the increase in the number of transactions, real estate prices are also starting to rise. Almost all real estate specialists expect more and more transactions and higher prices. So today is really the time to buy a second home in Spain.

 

The Costa Blanca is popular for a second home.

 

The average price per square meter depends on the region in which you buy a second stay. Prices in the Balearic Islands (e.g. Ibiza, Mallorca) and in cities like Barcelona and Madrid are much higher than on the Costa Blanca. Even cheaper are the region of Murca (Costa Cálida) and the Costa Almería . These areas are therefore also popular.

 

The Costa Blanca stands with one place on one for the Belgians. In 2018 31% of all purchases took place there, followed by the Costa del Sol (18%) and Tenerife (12%). On the Costa Blanca (from Alicante to Cartagena and Murcia) the country is cheaper and you can have a completely new house built for less than 300,000 euros.

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