During the pandemic, quarantine, and self-isolation, many people realized that their small apartments in cities are not such a comfortable place to live. This has generated a demand for more spacious apartments and houses — real estate in the suburbs or the provinces.
How high is the growth in real estate sales outside of cities? Where can you buy more and why?
In 2020, buyers' preferences shifted to spacious single-family homes on the outskirts of major cities. But in 2021, there was no such situation.
The Association of Spanish Consumers of Movable Property (AEPSI) points out that last year, the situation changed dramatically, and many real estate transactions again were made in the cities.
Jesus Duque, vice president of Alfa Inmobiliaria, confirms AEPSI's observations: "The interest in real estate outside the city has changed, the number of deals to buy a property was not as high as expected."
There has been significant progress in the introduction of flexible working hours in the country, but many people cannot leave the cities, move to the countryside, and work remotely.
The problem is not only that people who are ready to leave the city cannot organize remote work for themselves. Their family members also have these problems.
Demand in and near cities
Inaki Unasain, president of AEPSI, claims that Barcelona, Madrid, and Vitoria-Gasteiz were the most popular cities to live in last year. Cities benefit from infrastructure — a well-established relationship between neighborhoods, homes, jobs, social services, and other public spaces.
The most popular places in Madrid
The real estate and mortgage assessment agency Instituto de Valoraciones, which is under the report of the Central Bank of Spain, indicates that not only the districts of Madrid but also the nearest municipalities are in high demand, which offer more modern real estate suitable to customers' current preferences.
This applies to housing with large open spaces, better lighting, and more developed public areas.