Spanish Second Home Market Redefines
Itself
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| Costa del sol continues to lead the way in property sales and rentals |
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.
