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article_detail
Date Published: 21/09/2021
ARCHIVED - Property buyers in Spain move away from the coast
Experts suggest that the coronavirus pandemic has led to homeowners in Spain wanting more space than coastal homes allow
While the world is seeing a light at the end of the tunnel after the latest wave of the coronavirus pandemic, potential property buyers in Spain are pondering new priorities, such as more space and open areas as opposed to the more touristy coastal spots.
In fact, the latest Tinsa report shows that in two thirds of the Spanish costas, the price of housing dropped significantly between the first quarter of 2020 and 2021, perhaps not surprisingly. But the difference is significant: housing value dropped a whopping 66% in the 150 municipalities studied over the same quarter period of both years.
According to the report by Tinsa, the most dramatic drop in the housing market has been seen in the Valencian Community, particularly on the coast between Canet d’en Berenguer and Alboraia, in Alicante between Calpe and Pilar de la Horadada, and Gran Canaria and Lugo.
It’s not all bad news for the property market, however, as prices are seeing a considerable recovery on the coasts of Cadiz, Huelva, Pontevedra, Asturias and Vizcaya, where holiday home purchases are on the rise.
It is the opinion of Andrea de la Hoz, senior analyst at the Tinsa Research Department, that the pandemic has caused a shift away from the coasts in favour of more open spaces, in addition to the special requirements of people now working exclusively from home. Nevertheless, she has noted that those wishing to move are not going too far from their local provinces.
Despite the overall national decline, data from Tinsa show that 19 coastal municipalities have seen an increase in the number of homes sold in 2020 compared to the previous, pre-pandemic year.
The coastal towns that registered the highest number of home sales in 2020 excluding provincial capitals, were Torrevieja (3,428 homes), Orihuela (2,841 purchases), Gijón (2,953), Marbella (2,568) and Estepona (2,524).
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