More and more people are considering investing in property in the Costa Blanca as the Spanish economy grows and property sales soar.
Recent reports show that after a decline in sales during the 2020 pandemic, the housing market has
bounced back, with the number of home sales increasing by 15.5% year-on-year in April 2022. Foreign investors have found themselves increasingly interested in the Costa Blanca region as well as the Balearic Islands, with a third of total property demand coming from foreigners. In fact, foreign buyers accounted for 17% of the total Spanish property market in 2021. Despite the limitations associated with being a non-EU national, interest remains unhindered thanks to Spain´s Golden Visa Scheme. Read more about Golden Visa in Spain here.
In April 2022, the largest increases in price per square meter were recorded in regions including Murcia (13.1%), Valencia (13.1%) and the Balearic Islands (10.2%). Even though the average national growth in 2022 has been around 2% each year in price per square meter, property prices have not reached the peak of €2101 per square meter that occurred in 2008.
So, as prices are on the rise, now may be the best time to invest as current property prices in Spain can offer much future value.