Idealista, the Spanish property portal, produced some interesting figure on "asking prices" of property on the Spanish coast.
Of notable interest to us is the Costa Blanca where average asking prices since April 2020 last year have increased by approximately 3%. In short the COVID 19 pandemia has not had the disastrous effect on property prices in the Costa Blanca region. Of course, the number of transactions declined but that is now recovering, only last week the numbers from the from the Instituo Nacional de Estadistica (INE) confirmed that 47,322 property transactions were registered in March with the Spanish Property Registry offices, up 9,6% on the month previous and a massive increase of 32,4% compared to 2020, and back at pre-COVID levels. The notaries also reported an increase in the number of mortgages signed in March, up 75% year on year.
Such data demonstrates that the Spanish real estate sector has left behind the pandemia.
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