_480x320.jpg)
A notable recovery in the coastal holiday property market has been observed from Eau Val Minor to A Guarda. This is the stretch of the Galician coastline where the market for apartments and rentals is experiencing the greatest buoyancy, according to Tinsa real estate market report annually. The document states that holiday property market is recovering on 66% of the country's territory in a “moderate” mode, but noticeable recovery is present only on 3.4% of the coast, including the area from Nigran to the mouth of the Miño River and other enclaves of the coast of Cadiz, Huelva, Asturias and Vizcaya.
The main focus is on the beachfront, highlighting the “resort areas of medium to high purchasing power”, especially in Praia America region in Nigrana and around Ladeira and Santa Marta sandbanks in Bayona. The rest of the coastal area of the Pontevedra province is showing signs of reactivation, albeit modestly since the stagnation of 2020.
Bayona and Nigran retain rentals attractiveness in summer season, being in high value of the province and throughout Galicia. The real estate market situation in the Vigo estuary is highlighted by the rise in prices for the purchase of new and secondary housing in O Val Minor, compared with a slight increase at the end of 2020. In the rest of the Vigo estuary, including Pontevedra area, new construction prices remain stable, while secondary housing prices are rising slightly.
One of the most pressing issues is the rise in rental prices for permanent housing. Bayonne and Nigrana have confirmed 10% growth over the past twelve months, while Vigo and the region's municipalities such as Redondela, Sutomayor or Cangas are gaping 15% “due to increased demand for more spacious and comfortable houses in the vicinity”.
In terms of seasonal rentals, it confirms the good year that the sector predicted as early as June, despite the fact that summer came later. “Demand has been crazy this year. There is more national tourism, and this has done good to Val Minor, ”says Sanroman. Finding a house with a pool this summer was already a daunting task in June. In addition, the pandemic and the ability to work remotely have led to longer stays in the country.