Buyers opt villas suburbs

The pandemic has led to a shift in demand from apartments in favor of private houses in peripheral areas, according to the General Council of Official Real Estate Agents Associations (COAPI) of Spain. The report also states that buyers choosing apartments require spacious terraces and common recreational areas.

People who decide to live in this format are looking for complexes in central city neighborhoods. One of the main requirements is proximity to public transportation and infrastructure with supermarkets, reports Europa Press.

As a result of the pandemic, demand for real estate with open spaces has grown significantly, according to real estate agents.

In terms of prices, the Autonomous Community of Madrid and the Basque Country lead at 3,117 euros per square meter and 2,883 euros respectively. They are followed by the Balearic Islands and Catalonia, where prices exceed 2,500 euros.

For this reason, many buyers choose well-located apartments with smaller private areas. “The client looks for a property with good layout and on average two to three bedrooms. In addition, they emphasize that the property should not require renovation, which could increase the total cost,” commented the General Council of COAPI Spain.

Real estate agents also claim that there is no definitive answer to the question of what is better - buying new construction or secondary housing. It always depends on the specific profile of each buyer and the priorities they set when choosing a property, since both options satisfy certain needs.

The qualities offered by both types of real estate attract one or another buyer profile depending on their priorities. New apartments guarantee a longer lifespan of the property, offer modern design and have lower energy consumption, among many other advantages. However, secondary housing is cheaper, has better location and lower tax burden.