Spanish Property Market Trends for 2023

Spain’s real estate market enjoyed an incredibly successful year in 2022. Since last year was one of the best on record for the Spanish property market, here are our predictions for what is to be expected from Spain’s real estate market in 2023.

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By Ben Spowart
Spanish Property Market Trends for 2023

Throughout this guide, hints and tips will be provided to ensure that you are focusing your efforts in the right areas, along with us providing some new information that might help your Estate Agency in the coming months.

What trends did we see in 2022?

In 2022, the Spanish property market saw high demand for second homes, this increased by 50% on the previous year. We believe this was done to the revival of the tourism industry as well as the reopening of hotels. The Costa Blanca area saw a huge increase in people looking at a second home, the profile of these buyers was usually between 55-65 years of age. 

There was a large increase in the Spanish population looking for better homes. It was recorded that the Spanish population was looking at bigger homes, which had outdoor space. It was also common for people who were living in the city to exchange this for a quieter and better quality of life in greener areas. 

Did you know, the cost of living in Spain is 8% lower than in the rest of Europe?

This statistic can be used as a unique selling point when it comes to dealing with customers who are thinking of relocating to Spain. The cost of living is a big issue at the moment, especially within the United Kingdom, so promoting this stat will demonstrate one of the reasons why someone should consider moving to Spain.

Spanish transportation services are 17% cheaper than in other European countries!

Spanish property prices remain very competitive when compared to other international markets. Along with this, mortgage rates within Spain remain cheap, especially when you compare them to inflation. Mortgages can be a big factor when it comes to deciding whether a property is right for you, so promoting these stats might persuade the client to go ahead with the sale.

The 3 cheapest Spanish cities

  • Malaga
  • Las Palmas de Gran Canaria
  • Seville

If you have properties within these areas, make sure to shout about this stat and advise customers on the reasons why moving to these specific places in Spain will benefit them financially.

What are the typical property demands for customers outside of Spain?

When someone is considering moving to Spain from a different country, typically, the majority has similar expectations and demands for their new property. This can range from the ideal location of the property to the nearby amenities. Here are some examples of what a customer may be looking for:

  •  A nice view
  •  Close to the beach
  •  Not too far from the city centre
  •  A range of restaurants and shops nearby
  •  A private area outside, this can be a terrace, garden, or even a pool.

You can use these unique selling points when it comes to advertising your properties. For example, if you are planning to run a Paid Ads campaign soon, these USPs must be included in the content and the imagery. By showcasing this, it might prompt the customer to stop scrolling and engage with your Estate Agency.  

The power of homeworking!

Within the real estate industry, more and more people have noticed a trend in moving from major cities to suburbs and second-tier cities. One of the main reasons for this is due to homeworking. We believe that relocating to Spain ticks many boxes when it comes to working from home. If you are considering moving abroad to work from home, here are some of the plus sides to choosing Spain:

  • As mentioned above, the cost of living in Spain is extremely affordable, compared to other countries. This is something that needs to be taken into consideration when working from home, as you will see an increase in your electricity and heating bills.
  • Spain is known for its strong infrastructure networks; this includes transport and the Spanish health care system. When moving to a new country, these things are important to research and learn about before making the move.
  • Lastly, Spain has perfect weather for over 300 days per year!

The reason we have highlighted these specific topics is that they can be an effective tool when it comes to selling your properties. If you are planning to advertise your Estate Agency to people outside of Spain, then you can use these to your advantage when attracting new customers. Continue to shout about the benefits of Spain, why should someone consider buying a property there and how can you help them choose the right one.

Which Nationalities are Buying in Spain?

In May 2022, it was reported that residents within the United Kingdom, Germany and France had made the most acquisitions of properties within Spain. This statistic can be used to your advantage when it comes to advertising in 2023. You can target these specific countries and hope your Estate Agency will see success. It’s well known that Belgium and Netherlands residents are often interested in the Costa del Sol area. 

Lower sales in 2023 

Research shows that in 2023, there will be around 550,000 sales within the Spanish property market which is a decrease of 50,000 compared to last year. Let’s still take positives from this stat, experts have pointed out that half a million sales is a healthy number and will indicate a balanced market. How can you make your Estate Agency stand out in 2023 and maximise sales this year? 

  • Focus your efforts on Digital Marketing. Promoting your properties on your social media platforms will gain attraction and increase your Estate Agency’s brand awareness. 
  • Provide exceptional customer service. It’s crucial that you leave a lasting impression on your customers, both new and old.

How we can help! 

Here at Property Webmasters, we have over 30 years of combined experience within the industry, we are experts when it comes to helping estate agents succeed online. 

Are you interested in exploring the Spanish property market? Please feel free to contact Property Webmasters and we will be more than happy to help!

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