Spain ranks second in global property demand, says Knight Frank

Spain ranks second in global property demand, says Knight Frank

Posted on 27/03/2023 by in Property Investment Spain
Spain ranks second in global property demand, says Knight Frank

According to the latest Knight Frank Wealth Report, Spain has been named the second most attractive marketplace for international real estate investment in the world for 2023. The report highlights that wealthy investors are looking for markets that offer healthy returns, lifestyle benefits, and stable political governance.

However, it's not only wealthy investment groups that recognize the benefits of investing in Spanish property. The demand for holiday homes, second residences, luxury properties and investment properties with good rental returns continues to rise. Knight Frank's analysis also confirms Spain as the world's second most sought after property destination.

Coastal areas remain popular destinations for domestic and international homebuyers, with Andalucía leading the pack for property transactions in 2022, with over 136,000 property transactions, followed by Catalonia (108,130), Valencia (108,091), and Madrid (87,000). In the Malaga region, home to the Costa del Sol, a record number of 41,327 properties were sold in 2022, representing an increase of almost 12% from the previous year.

The increased demand has driven prices up by 15.1% in the Malaga region. Modern properties in desirable locations, such as Marbella (20%), Estepona (20%), and towns on the western Costa del Sol including Casares (17.6%) and Manilva (23.5%), saw the highest price increases on the Costa del Sol.

With airlines adding more direct routes from European and North American destinations, the Costa del Sol is becoming even more accessible. Currently, Málaga Airport offers non-stop passenger flights to 156 destinations in 37 countries. In just a few hours, you can escape the daily routine and enjoy a sunny afternoon in your new home on the Costa del Sol.

Are you still searching for your perfect home on the Costa del Sol? Contact Domus Venari today and start the search for your dream property on the Costa del Sol.

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