If he 2020 will go down in history as the ‘COVID year’, he 2021 it will, between many other things, for the implementation of a historic vaccination plan against the coronavirus of the entire world population. Not only will the obvious health benefits depend on the efficacy of the vaccine, but also the definitive recovery of the economy. One of the main consequences of the end of the pandemic will be the free mobility of the population, which will have a revulsive effect on the Spanish real estate market.
In this sense, the forecasts of pisos.com point out that foreign real estate demand will grow by 20% year-on-year in 2021 thanks to the gradual opening of borders between countries. This increase will influence all purchasing segments: first home, second home and investment. The market for the purchase of holiday homes will be the most dynamic while those for first homes and investment will be linked to a greater extent to the evolution of the pandemic.
The tourist rental will also gain prominence, recovering much of what was lost in 2020 in favor of residential rental. This trend is the opposite of that recorded last year, when the transfer from short to long stay involved around the 30%. This return to the vacation real estate business will have a special impact on the provinces of Santa Cruz de Tenerife, Las palmas, Almeria, Tarragona, Barcelona, Valencia, Cádiz, Alicante, Málaga, Girona, Granada, Balearic Islands and Murcia.
Ferran Font, Director of Studies at piso.com, underlines “The importance of foreign real estate demand in a country like Spain, that beyond living in the service sector, it is very attractive in residential and holiday terms ". “If the foreign buyer usually represents around the 13% of the total 500.000 home transfers that are registered per year in our country, in the past 2020 some were affected by the stoppage and closing of borders 65.000 operations, reason why this year we are going to notice a considerable rise in this indicator ", indicates the expert.
British, French, Germans, Italians, Moroccans and Swedes will continue to be the majority nationalities in the Spanish residential market. The regions that will notice these increases the most will be, in this order, Andalusia, Catalonia, Baleares, Canary Islands, the Valencian Community, Murcia and Madrid. Also, the new construction market in large cities such as Madrid, Barcelona, During the first semester, Valencia or Seville will begin to register a slight rebound in its activity due to the increase in demand and the gradual stabilization of both purchase and rental prices..