Rental yields were very interesting as 35% of the 82 million tourists visiting Spain in 2019 were using private accommodation, according to the Ministry of Tourism. So do your due diligence and check things beforehand as to avoid additional delays. And two of them are the one who sets the rule of the game: the government, and the ones that define how profitable your investment will be: Hence, foreign investors will need to be up to date with what the Spanish Ministry of Economy does and strategize afterwards. There is no doubt Valencia will become the go-to option during 2020. Your email address will not be published. Marbella’s real estate market has also felt the pressure as a result of the coronavirus crisis, as experts predict that the total volume of sales will crash by around 30 per cent, bringing it closer to the levels witnessed in 2012 and 2013. Lower economic growth is expected within Europe. The Spanish property market has fallen to a standstill situation, like the rest of the economy in most European countries, although it is expected to resume activity during 2021, with the arrival of vaccinations in the country. Marbella’s real estate market has also felt the pressure as a result of the coronavirus crisis, as experts predict that the total volume of sales will crash by around 30 per cent, bringing it closer to the levels witnessed in 2012 and 2013. How to request a mortgage. All the latest news and analysis of the Spanish property market, tips and guides for Spanish property buyers, owner, and sellers, plus insight from industry insiders providing expertise on every subject related to property in Spain. Nevertheless, there is no need to worry. We will talk more about that later on in the last section. Overall conditions that are nearly identical to the ones in Barcelona (same weather, same food, coastline, and tons of expats communities), but with much lower prices. Market in Marbella: Real estate is predicted to experience a slight crash but quick recovery. METRE in the first quarter of 2008 and a record low of 266.43 EUR/SQ. But it puts an end to a string of 11-month straight declines since December 2019. Taxes for property owners. Spain’s housing market is now close to being balanced after being massively oversupplied.
Especially on the Spanish coasts, foreign home buyers are still the ones who account for a large part of the market.Foreign buyers account for 18% of total sales in 2018. The oversupply of homes reached its peak in 2010, when the surplus stock amounted to 931,615 homes, according to the Institute of Business Practices (el Instituto de Práctica Empresarial or IPE).