In recent months, single-family homes have been the hottest selling properties in most of Spain.
Restrictions on mobility, remote work and a new perception by people of their homes have led to increased demand for spacious properties with gardens and which are in most cases located away from the hustle and bustle of large cities. Needs have changed and space is now a priority for most buyers.
The strong demand for this type of property has led to a reduction in housing inventory in the Valencia region. Meanwhile, the supply in some other regions has already been exhausted.
This situation was highlighted by Luis Fabra, director of real estate market research at the University of Zaragoza and the Real Estate Market Research Group (Gamerin), during the presentation of the housing market report in the second quarter of this year. A document prepared by the Association of Real Estate Agents of Valencia showed that sales and purchases of detached and semi-detached houses declined slightly in the latest quarter; however, they still account for most transactions.
“The share of single-family homes in real estate transactions in the second quarter decreased slightly because of the lack of supply amid strong demand. This type of real estate continues to attract great interest, but there are fewer decent offers, which results in the decreased number of transactions,” Fabra said.
Single-family homes accounted for 21.46% of the total number of real estate transactions during this period in the Valencia region, which is very close to the all-time high reached in the third quarter of 2020, when the figure was 23.73%.