Spanish Property Prices Remain Stable

According to a report published by Knight Frank last week, property prices in Spain remain stable despite the current Covid-19 global pandemic.

Although sales have been reduced, the general demand for Spanish properties remains strong. There are a considerable nu mber of foreign buyer enquiries, especially for properties on the Costa del Sol.

The average home price in Spain rose by 3.2% percent in March year-on-year and by 0.3% compared to the previous month.

Due to the current travel restrictions, the number of sales is expected to substantially reduce over the coming months. However, experts predict that the property market will gain momentum towards the end of this year when those restrictions are lifted and property buyers from Northern Europe will be able to return to Spain and the Costa del Sol.

In the meantime, Domus Venari, and many interesting New Developments on the Costa del Sol are offering virtual tours, online viewings, and attractive purchase conditions and incentives.

Particularly in the prime real estate segment, the interest of Spanish and international property buyers remains strong with online viewings in this segment of the market increasing significantly from mid-March.

Market activity has increased since the restrictions have been loosened on the 13th April and construction in Spain re-commenced.

Though most local and national "non-essential" workers are at home, Domus Venari continues to offer digital and telephone services to the many international families that have purchased or are in the process of purchasing property in Spain.