The real estate sector in Spain, the sale and rental of housing in particular, remains one of the few sectors of the Spanish economy that maintains its growth rates at extremely high levels, still holding the post-pandemic momentum of development. In some regions of the country, this is especially noticeable, for example, in Seville.
The available market data demonstrate that currently Seville maintains an extremely impressive pace of construction of new residential real estate and attracts huge volumes of tourists, expats, investors. There is a supply and there is a demand that this supply can satisfy and, in a sense, does not even keep up with it.
Forecasts predict a bright future for this market and some information describing its condition and development dynamics will be presented below. It will be useful for investors who plan to invest their funds in local housing, for example, to earn money on rent.
Indicators that cause optimism
In a report prepared by the consulting company Savills, Seville is considered as a city with one of the most impressive growth potentials among other regions of Spain. Both Seville itself and its province have successfully overcome the difficulties that arose as a result of the pandemic, and are preparing for a return to pre-pandemic indicators.
The city has a developed investment infrastructure and attracts both private investors and funds, developers, including international ones, and many real estate brokers. In addition to the housing sector, which is key for the development of the local market, the hotel sector is also very attractive to international investors.
Since 2021, Seville has been showing steady sales growth. At the moment, the volume of residential real estate transactions has increased by 40% compared to last year. At the same time, the volume of permits issued for the construction of new real estate has also increased, specifically, we are talking about a 50% increase compared to the same period in 2021.
Seville is also the third most visited city in Spain. We are talking about the total number of tourists, both domestic and international. After the pandemic, and even against the background of the current international tensions, the number of people arriving on vacation in Seville is only growing and inspiring optimism.
Thanks to this popularity, the city attracts many major international hotel brands. Many of them are already actively cooperating with developers, investing huge amounts of money in the purchase of existing and construction of new hotel facilities. In the coming years, the local market expects a large influx of both new housing and new hotels.