The Spanish property market has continued to defy expectations, despite broader economic challenges. The region’s appeal to international buyers appears undiminished, and the number of homes changing hands is still high. In fact, figures from the Registrars Association show that resale transactions in February this year were up by 15.1% on last year.
In terms of new-build properties, the trend was slightly slower but still robust. In both cases, buyers have made the most of a lack of available stock, with prices rising sharply. According to Tinsa, the price index for new-build houses in Andalusia climbed by 3.5% in Q1 2023 compared to the same period last year.
However, this is a highly specialised segment of the market and it will take time to build up a substantial number of sales. The key to success will lie in pricing – a well-priced home will attract more interest from potential buyers, and it may be possible to negotiate a good deal with the vendor.
The speed at which a property sells also depends on the location. The best locations tend to move fastest, and in some instances properties have found a buyer within a week of being listed. In contrast, it can sometimes take up to a month for a home to find a buyer in a less desirable area. This is one of the reasons why it is important to select a reputable real estate agent when buying a home in Spain. property sales costa del sol