Spanish Second Home Market Redefines Itself

Spanish Second Home Market Redefines Itself

Costa del sol continues to lead the way in property sales and rentals

There’s no such thing as a “typical” overseas buyer when it comes to Spanish property. For every millionaire looking for property in La Zagaleta, there’s the average Joe that has worked hard to finally invest in an overseas property.

However, it’s well known statistics can be manipulated to tell any story, which is what happened with real estate portal Donpiso. The results are interesting to say the least.

The data shows that an average holiday home in Spain costs €200,000, is o the or near the coast, and is purchased by couples between 35 and 49 years old, with children and a regular monthly income of at least €3,500.

The cheapest coastal region in Spain to purchase property is Murcia, where the average holiday home costs just €150,000. The figure increases as you move across the Costa Dorada. Costa Brava and Costa Blanca with those buying second homes on the Costa del Sol spending an average of €350,000.

It’s true that you really can do anything with statistics. Even though house prices do rise on the Costa del Sol faster than anywhere else since the beginning of the recovery, €350,000 is still higher than the average price one would be paying for a home in the area.

The figure is skewed as Marbella is where the most expensive postcode in the country is found, along with many exclusive neighbourhoods and urbanisations packed with luxury homes. In the more affordable areas of the region, buyers can get a property for the bargain price of around €200,000.

Other trends related to dates show that the summer is the busiest time for buying holiday homes, while demand cools off during the run up to the Christmas holidays.

Another study from Marbella Property Group praised the Spanish property sector, stating that the industry has undergone a major transformation as of late with higher employment levels, an increase in disposable income, and a rise in consumer confidence boosting housing demand, along with the 20.2% increase in mortgage lending in March of 2017 compared to last year.

Summer Road Deaths Fall 12% in Spain

Summer Road Deaths Fall 12% in Spain

Spanish drivers are taking less risks and accidents are down

31% less people died on Spanish roads over the summer of 2017 compared to 2016, which is encouraging. 

Driving through Spain is an incredible experience because of the stunning scenery and pleasant climate, not to mention the long winding roads across the most incredible and cliff-hugging terrain around.

Spanish driving habits are considered to be a reflection of the general psyche of the country. If we could describe British drivers as being patient and polite but prone to the occasional outburst of road rage, then it may be fair to say that Spanish drivers are passionate about driving and not afraid to show their emotions.

The reality is that everywhere has good and bad drivers of course, and this includes Spain. As Spain has modernised their road network through EU money, and cars are made safer with German and Japanese engineering, Spanish road deaths are drastically decreasing.

The latest data from the Directorate General of Traffic (DGT) in Spain shows road deaths in summer dropped 12% compared to the same time period in 2016 – which shows that Spanish roads are becoming safer than ever before. 

The data shows that 224 road deaths occurred in July and August in 2017, which is 31 less than in 2016 across the same time period. While the figure remains high compared to the rest of the EU (where Germany, the UK, and Denmark have the safest roads statistically) it is a great improvement over the space of one year, especially given that the amount of trips taken in the country across the summer increased 3% to 87.6 million. 

In regional terms, much of central and northern Spain saw less fatalities, along with the Balearic Islands.

Andalucía recorded a total of 38 road deaths in the summer, which was an increase from the 35 last year. The region remains popular with holidaymakers from across the world, most of whom are behind the wheel as soon as they leave the airport. This means that it is difficult for authorities to control road deaths and bring them to acceptable levels.

This can also be said of Catalonia, where the perpetual popularity of Barcelona goes somewhat towards explaining why 15 more road deaths occurred during this summer compared to last summer.