According to Rightmove, the UK´s largest property portal, during April 2020 the demand from buyers searching for overseas properties reached their highest numbers for this year, up by 50% compared to March 2020, and up by 18% compared to April 2019.
The statistics for the beginning of May 2020 are equally as promising, with buyers searches for overseas properties up by 29% compared to the early weeks of May 2019. Searches for Spanish properties in particular have increased by 24% year on year!
These numbers are a strong indication that confidence in the Spanish property market is being maintained despite the challenges many are facing due to COVID-19. A good sign for buyers and sellers alike.
Once travel restrictions have been lifted and international borders re-opened, it is anticipated that investors and bargain hunters will descend on the Costa del Sol.
For cash rich investors during times of uncertainty, the Spanish property market will be seen as safe place for their money in comparison to some of their existing investments that may be suffering. Bargain hunters are already starting to see more properties becoming available, and significant price reductions being applied to properties already on the market. Finding their dream property in their preferred location may no longer be out of reach!
Until such time that international buyers can again travel abroad, physical viewings are of course not possible. To assist buyers in finding their ideal property, Team España have created a number of walk through videos and virtual tours. Some of them can be found on our website, on our YouTube channel, or via our property listings on Rightmove.
Contact us today to discuss your requirements and to better understand how Team España can assist in finding you your ideal property in Málaga, Marbella, Nerja and their surrounding towns and villages. We look forward to welcoming you to Spain in the very near future.