Experts suggest the coronavirus pandemic has led homeowners in Spain to want more space than coastal homes allow
As the world sees a light at the end of the tunnel after the latest wave of the coronavirus pandemic, potential buyers of real estate in Spain are reflecting on new priorities, such as more space and open spaces as opposed to sites more touristy coastal areas.
In fact, the latest Tinsa report shows that in two-thirds of the Spanish costas, the price of housing has dropped significantly between the first quarter of 2020 and 2021, which is perhaps not surprising. But the difference is significant: the value of housing fell by 66% in the 150 municipalities studied during the same quarter of the two years.
In the opinion of Andrea de la Hoz, senior analyst at Tinsa’s research department, the pandemic has caused a shift in the coasts in favor of more open spaces, in addition to the special demands of people now working exclusively from home. Nonetheless, she noted that those who wish to relocate do not stray too far from their local provinces.
Despite the overall national decline, data from Tinsa shows that 19 coastal municipalities saw an increase in the number of homes sold in 2020 compared to the previous year, before the pandemic.
The coastal cities with the highest number of home sales in 2020, excluding provincial capitals, were Torrevieja (3,428 homes), Orihuela (2,841 purchases), GijÃ³n (2,953), Marbella (2,568) and Estepona ( 2,524).