The Spanish real estate market is booming. However, given that it is the largest market in Europe, there are many factors you need to know before finding houses for sale in Spain. This article will take you through everything important about this market and what is likely to happen in the coming years.

Things You Need To Know About The Future Of Spanish Real Estate

UK buyers are still looking at Spain

With Brexit looming, the Spanish property market is expected to slow down in the short term. This will affect UK buyers and there will be a temporary dip in demand for properties in Spain. However, by 2020, house prices in Spain are expected to rise slightly.

Spanish house prices may rise slightly in the short term

The British government has announced that it will introduce a tax on foreign property buyers. This tax will be applied to non-EU citizens who purchase property in Spain, and it is likely that this will lead to a drop in sales of UK properties within Spain.

The Spanish government has also announced that it will introduce new measures which will make it more difficult for foreigners to buy homes in certain areas of Barcelona, Madrid, and Valencia. These new measures are likely to have an impact on house prices in these cities, although it is unlikely that they will have a significant impact on house prices across Spain as a whole.

Barcelona is still very popular with foreign buyers

The demand for housing in Barcelona is high, especially among foreigners. The city's reputation as a tourist hotspot has not changed, even though the tourism industry has scaled back its operations. Foreign buyers are still interested in purchasing property in the city and they are willing to pay higher prices than domestic Spanish buyers. In fact, there is a shortage of housing in Barcelona, which makes it more expensive than in other cities such as Madrid or Valencia.

There is a high demand for housing in the Spanish capital

The Spanish capital is one of the most expensive cities in Europe. With its diverse economy, vibrant culture, and long history, Madrid is an attractive place to live.

The city's population is forecasted to increase by more than half a million people in the next 20 years. There are also plans to build hundreds of thousands of new housing units in Madrid — which would make it one of the largest construction projects in Europe.

The demand for housing in Madrid is high due to its growing population and an increasing number of residents who migrate from other parts of Spain.

Property sale numbers are slowly beginning to rise

In the last few years, there have been some exciting changes in the Spanish real estate market. You might have noticed that the prices of properties are slowly beginning to rise and that there are more homes for sale than ever before.

This is because of several factors:

The Spanish economy is doing well. This means that many people will have more money to spend on their homes. For example, in 2018, the country saw its fastest growth since 2007, according to Bloomberg Intelligence. It also had the largest budget deficit in 12 years, which means that it had less money available to spend on essential services like healthcare and education.

In addition to this, there has been a lot of interest from foreign investors who want to get into the Spanish property market. This means that many new houses are being built for these buyers who want to invest in property abroad. For example, according to data from Property Intelligence Services (PIS), there were more than 36,000 new homes built in Spain between January and August 2019 alone!

The Spanish property market is improving slowly but surely

The country's economic crisis has pushed the country's real estate sector into a deep recession and a staggering 21% drop in property prices. The situation has been particularly dire in Spain's major cities, which have seen some of the steepest drops in prices this year.

This has led to a rise in interest from international investors looking to snap up property at bargain prices as an investment or even as a long-term play on Spain's future economic recovery.

Conclusion

Spain is, without a doubt, one of the most attractive destinations for people looking to buy property in Europe, especially after Brexit. That is why all market levels – investors, homebuyers, and foreigners, are very interested in the future outlook. Spain attracts us by its weather and landscapes, low and middle-income country tax system, lack of corruption, and much more. If You feel that the future of the Spanish real estate market is good and want to buy a property and want to do an investment in the real estate market in Spain, then you need a real estate agent that guides you through the process. In this process, you should consider a good real estate agent like makoo. Makoo is your one-stop shop for all your Spanish property needs. Whether you are looking for property to buy or rent, Makoo can help. With thousands of property for sale in Spain. Our great staff will walk you through the international difficulties of buying up property in another country, ensuring that you do not miss out on the ideal home.