May 2021 News

Contents

  • Tourist season and vaccines

  • Real estate market recovery

  • More vaccines — more deals?

  • Swedes are going to Marbella

  • View from the window, internet and beach

  • Forbidden fruit

  • A house for Guardiola

1. Tourist season and vaccines

Lagoon

On May 21, Spanish Prime Minister Pedro Sánchez announced that from June 7, foreign tourists would be able to enter the country. Citizens of “safe” (in terms of infection rates) countries outside the EU will be able to arrive without vaccination. These are citizens of the United Kingdom, Australia, New Zealand, Singapore, Israel, South Korea, China, and Rwanda. The list may change in the near future.

For all others, Spain accepts vaccines approved by the World Health Organization or the European Medicines Agency (EMA). At that time, these were:

  • BioNTech/Pfizer

  • Moderna

  • AstraZeneca

  • Johnson & Johnson

  • Sinopharm

Unfortunately, the Russian “Sputnik V” and its modifications were not included in this list, despite the fact that the vaccine was used in more than 60 countries.

2. Real estate market recovery

Malaga

The price per square meter of housing on the Spanish coast increased by 0.5% over the past year and amounted to 1,751 euros, reports Idealista. The fastest recovery in resort real estate prices was recorded in the Balearic Islands, Málaga, and Alicante. According to experts, a year ago the market was under stress and was “put on pause,” and now most buyers are returning to postponed deals.

The largest price decline among coastal areas was noted in Granada, on the Costa de Almería coast, and on the island of Las Palmas.

3. More vaccines — more deals?

The Madrid Association of Realtors pins great hopes on mass vaccination, which will stimulate pent-up demand in the real estate market. According to expert estimates, the savings of small investors ready to invest in real estate amount to about 30 billion euros.

José Meléndez Pineda, representative of the Association of Spanish Registrars: “The acceleration of vaccination will yield results starting from September. By the end of the first month of autumn, the number of housing purchase and sale transactions could increase by 5%.”

4. Swedes are going to Marbella

Marbella’s port

Demand from Swedish investors for luxury housing in Marbella and its surroundings will double in 2021, writes Idealista citing DM Properties. Interest from Swedes has grown by more than 100% compared to other nationalities.

According to the report, the tax reductions announced by the Andalusian authorities (ITP and AJD — housing sales taxes), as well as the lifting of the state of emergency on May 9, played a role. According to DM Properties, many buyers from Sweden are taking advantage of the opportunity to conduct transactions remotely.

5. View from the window, internet and beach

San Sebastian

According to Savills Aguirre Newman, foreign property buyers in Spain are primarily looking for large open spaces. The main selection criterion is a sea or mountain view (for 94% of buyers). This is followed by surrounding infrastructure (90%), access to high-speed internet (87%), proximity to the beach (77%), presence of green areas nearby (71%), energy efficiency (70%), and proximity to the airport (65%).

Buyers over 60 are looking for properties in rural areas or suburbs (73% of respondents).

6. Forbidden fruit

Historical buildings in the city center

In Palma, the number of illegal property bookings is growing. According to Majorca Daily Bulletin, the number of requests has increased by 250% in recent months, despite a three-year ban on short-term tourist rentals in Palma’s historic quarters — the Old Center, Paseo Marítimo, Portixol, and Can Pastilla.

About 300 apartments in these areas have been declared dilapidated. Despite the ban, tourist demand is resuming. Compared to last summer, there are practically no short-term rental offers. For example: an apartment in the center of Palma cost travelers 1,522 pounds for six nights in August, including cleaning and service fees.

7. A house for Guardiola

Famous Spanish football coach Josep Guardiola, although he lost the Champions League final in May, still received a consolation prize. Guardiola bought a large mansion in the prestigious Pedralbes district of Barcelona. The Manchester City head coach paid about 10 million euros for the property.

The house area is 741 m², the plot — 2,114 m². Previously, the house belonged to Mexican footballer Rafael Márquez.