The real estate sector is still an attractive foreign investment option. According to the Spanish Association of Registrars, foreign buyers accounted for 9.72% of the Spanish property market in the first quarter of 2021. The Covid-19-related restrictions on mobility weighed on other sectors, such as Spain’s international tourism industry, while not affecting much overseas real estate demand.
The figure reveals that the pandemic has not dragged down interest from non-residents, with the number of real estate transactions increased by a staggering 200% between 2009 and 2019.
Spain’s great weather and positive experience with remote work during the pandemic have made moving to this country even more desirable.
According to the 8th Spanish Real Estate Barometer carried out by the Real Estate Credit Union (UCI) and its professional development area for real estate agents SIRA, 6 out of 10 real estate professionals mention stability and moderate growth in foreign client purchases and sales of Spanish residential property in the second quarter of 2021. In June 2021, the indicator rose to the pre-pandemic level, compared to the same period last year, when it had plunged by over 20%. The uptrend is expected to continue in the coming months, experts say.