THE FUTURE OF THE SPANISH PROPERTY MARKET IN 2022

The ups and downs of the Costa Blanca property market have been crazy this year so far. A real rollercoaster, to say the least. Although there were plenty of property sales during the 3rd quarter of 2021, the average house price fell by 5% compared to the 2nd quarter of 2021. However, was 14% higher than the 1st quarter of 2021. So you can see what I mean about a roller coaster of ups and downs!

So what’s in store for 2022? The interest in Spain continues to grow as the world is trying to balance the economy with travel. Euribor rates are predicted to decrease to 0.32%. This means mortgage repayments will be lower. Mortgages will help the economy recover quicker as it gives the public confidence to buy property again.

We may see a few minor price adjustments as we head into 2022, however as a whole, property prices are pretty stable right now and we expect them to remain the same for at least the first two quarters of 2022. There are genuine buyers out there. If homes stay on the market for sale for an extended amount of time, it will be the market proving their asking prices are just too high.

Like them or not, virtual viewings are here to stay. The way in which people purchase property has changed since 2020 and there’s no going back. The reality is, viewing and choosing a home online without even being in Spain is time efficient and super easy to do. 2022 will prove virtual viewings are just another option for the time conscious buyer that don’t want to miss out on a bargain, if they can’t visit in person.

As we look forward to a positive 2022, the Costa Blanca will continue to attract property buyers to its shores, both for its convenience for commut-ing and more importantly, its climate!

Rebecca Serwotka
Your favourite local property expert, of Inmobiliaria Real Estate Agents in Ciudad Quesada & published author of “Moving Forward – 25 Essential Rules For Buying & Selling Real Estate Without Going Crazy.”
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