Since the start of the pandemic, Spain has quickly entered the list of European countries with the most stringent «anti-COVID» measures for both inter-national and internal displacement.
Many citizens of the country found themselves, almost literally, locked in their homes and apartments. Visiting public places was strictly prohibited, travel opportunities were closed.
Spain's tourism industry had the hardest time, but since it created up to 12% of the country's GDP, its problems very quickly began to manifest themselves in many other sectors of the Spanish economy.
The changes in the tourism sector and the local real estate market became most noticeable after the influx of wealthy British buyers and investors dried up in the country. The category that traditionally made up the majority of the total influx of international visitors.
Of course, not only COVID-19 significantly affected the situation. The UK's exit from the EU had no less effect (approx. «Brexit»). This event has created serious concerns in the Spanish economy.
Fears were associated with the fact that the country's withdrawal from the European Union and the Schengen area would lead to the fact that Spain itself would simply lose all attractiveness for British tourists, buyers and investors.
All in all, now the British can freely visit Spain only as tourists and only for 90 days.
In the third quarter of 2021, the British even lost the championship to German tourists and property buyers. It was for the first time in the history of such statistics.
However, the events taking place at the moment clearly refute the existing fears.
With the easing of quarantine restrictions in Spain, even despite the consequences of Brexit, the British began to return to the local real estate market.
Some real estate agencies indicate that even houses worth more than 9.5 million euros can be sold in just two weeks.
It is also known that since the fourth quarter of 2021, the British have begun to regain their leading positions among foreign buyers of real estate. Thus, the British accounted for 12.4% of all real estate sales among foreigners at the end of the fourth quarter of last year. The Germans stopped at 10.9%.
Special attention should be paid to the fact that traditionally the British came to Spain in winter in large numbers.
Such an influx of visitors in the spring allows the market to look with enthusiasm at the winter of 2022-2023.
Due to the growing demand from the largest category of buyers, the local real estate market is also regaining a stable consumer base, which will help it recover in the post-COVID period.