In Cadiz, the real estate business moves up

In Cadiz, the real estate business moves up

Real estate agencies in the city of Cadiz agree that the reactivation of summer rental housing in the province's coastal cities began in April last year. The pandemic is still latent, but this is no longer a reason not to go on vacation. This is demonstrated by the data, as it is very difficult to find an apartment in the bay where you can spend two weeks in August. The high demand for holiday apartments has led to a sharp increase in prices. You will have to pay up to 2000 euros for a 3-room apartment within two weeks. El Puerto and Rota are the most sought-after destinations for people from Madrid and Extremadura, while residents of Seville prefer Chipiona and Sanlúcar.
The future of the economy, as well as the residential real estate market indicators in Spain, will depend in part on the development of the health situation. However, it is true that with the end of travel restrictions in the country and an active vaccination campaign, expectations are positive.
First of all, considering that after the second quarter of last year, activity almost completely stopped. This led to a price adjustment and a decrease in the number of transactions. These indicators are recovering with an increase in demand for housing.
The sector seems to have held up well in recent months. In particular, in some areas, such as coastal areas such as Cadiz, short-term hopes are pinned on the opening of international borders and the resumption of tourism in the summer.
In fact, according to the report on the initial budgets of public administrations for 2021 by the independent body for Fiscal Responsibility (Airef), foreign tourism is expected to account for approximately 40% of pre-crisis levels in the summer months. While it is true that the expected tourist flow is lower this year than in previous years, the arrival of foreigners, although to a lesser extent, may have an impact on the tourism and real estate sector.
Moreover, it is expected that a full recovery of tourism will be achieved in 2022, in any case, there will be a revival of the rental industry, as well as the hotel industry.

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