Spain is a nation with a long history, enduring customs, and impressive achievements. Below is a list of the records set here in the previous year. Let's begin with a story about real estate in Spain.
Content:
- Record sales in the secondary market
- The biggest real estate investment in Spain for the last six months
- Record transactions with overseas buyers
- Unique offers: a village for the price of an apartment
- Funny records: the biggest beer tasting
- Timeless Spanish records
Record sales in the secondary market
Spain has a long history of real estate records. This place is known for the never-ending influx of foreigners from all over the world who purchase apartments and villas in Spain for summer visits or a quiet life in retirement. Spain is also the birthplace of the royal monastery of Escorial, the Prado Museum, and Gaud's masterpieces in the twenty-first century. Both off-plan projects in Spain and secondary real estate are simultaneously highly in demand.
May 2022 ended up being a record-breaking month for sales in the secondary housing market. In May, over 60,000 properties were sold. Nearly 50,000 of these units were sold on the secondary market during the same period. In the history of such statistics, this was an absolute record. May 2022 saw an increase in secondary market sales of over 30% and new home and apartment transactions of over 12% when compared to the same time in 2021.
The biggest real estate investment in Spain for the last six months
Real estate investments in Spain reached historic highs: from January to June 2022, 9,870 million euros were spent in this sector. Investors have expanded their generosity by 80% from the previous year, focusing most of their expenditure on retail. The record amount of 2.9 billion euros invested in retail surpassed the figures for 2021 by approximately eight times! Residential real estate has received close to 2.5 billion euros in investment. The majority of the apartments and houses in Spain that are purchased will be rented out. The hotel industry received 1.65 billion euros from investors, far more than in prior years, placing it in third place in terms of investment.
Overall, the sales of real estate were far higher in 2022 than in 2021. By the end of October, 10% more transactions were completed than in the same period last year. Nearly 90,000 agreements were completed by sellers and purchasers in only one month, the month of October. Real estate sales decreased by a fifth in the Balearic Islands but, at the same time, grew by a third in the Canary Islands according to data for those regions.
The demand for flats in Spain is steadily increasing, despite the anticipated rise in mortgage rates. Due to the increased costs for energy sources and construction materials, new buildings will become more expensive, but experts predict that this will not significantly slow down the market. As has already been established, the secondary real estate market is where the majority of sales are happening at the moment, and the supply is limited. Additionally, the sunny country is drawing more and more people who are concerned about the energy problems threatening Northern and Central Europe, due to its affordable electricity costs and mild winters.
Record transactions with overseas buyers
Foreigners account for a sizable part of transactions in the Spanish real estate market. They were responsible for almost 20,000 transactions in the second half of 2022, setting a record high for the previous ten years. The French and Germans came close to the British, who were in the lead. Spain is well-liked by citizens of developed European nations due to its pleasant environment, inexpensive cost of living, and convenient transportation system. Statistics show that the average foreign purchaser of Spanish estate is between the ages of 45 and 60 and that he wants to live in a good flat in the middle of a medium-sized Spanish city for up to 1 million euros.
Unique offers: a village for the price of an apartment
In 2022, the Spanish real estate market offered unusual opportunities for investors to purchase entire communities. These lots are eligible for a record.
Imagine being able to purchase a whole village for the cost of an affordable apartment. A more current advertisement for the sale of a deserted village in the province of Zamora was published. 44 homes close to the dam were at once listed for sale. For approx.260,000 euros, the cost of a tiny flat in Madrid or Barcelona, you can purchase an entire village. Of course, the potential cost for repairs must be considered by the new owner. The village was abandoned over 30 years ago. There’s a lot of potential for creativity, but you will need to provide some work for the locals in a less developed area!
A Catalan abandoned farmhouse with extensions is available for individuals preferring more inhabited areas. You can purchase a historic farmstead with numerous hundred-year-old buildings for 320,000 euros. Running water and power are provided. If, as the real estate agent advises, the new owner is successful in converting this property into an eco-hotel or a comfortable residence for himself and his friends, this will set a kind of record for the transformation of real estate in Spain.
Funny records: the biggest beer tasting
One of the reasons why tourists adore this nation so much is the Spanish food. Several records linked to regional food have been held here throughout the last five years. E.g., in 2018, 640 kg of jamon were spread out on tables in the Toledo village of Torrijos by workers of the wholesale ham and jamon shop. The entire sale's revenues were donated to charity, thus this activity wasn't just done for publicity or to break a world record; all proceeds from the sale were given to charity.
A world "beer" record was also established in 2022 and entered into the Guinness Book of Records. The largest beer tasting ever held was by the Cerveses Moritz brewing company in July 2022, with 1,243 guests sampling three different Moritz beers in Barcelona throughout the event. It is unknown if jamon was also offered.
Timeless Spanish records
Out of respect for this nation, foreigners relocating to Spain should familiarise themselves with its history and national anthem. Long gone are the days when the Invincible Armada's ships sailed across the seas and the warriors led by Cortes, the local commander, overran an entire continent. Some records, however, never age.
E.g., Spain is one of the four countries in the world whose anthem has no words. The Spanish national song, La Marcha Real, is unique given that it is one of the oldest anthems still in use and that the other three anthems are from extremely small or new states (Kosovo, San Marino, and Bosnia and Herzegovina).