Home Buying in Spain Set to Increase 7%-10% in 2024, Reports donpiso



Demand for buying homes in vacation destinations in Spain is up by 30%, according to donpiso. Find out more about the latest trends in the Spanish real estate market.

Home buying in Spain is expected to see a significant increase of 7%–10% this year, according to the real estate brokerage company donpiso. The surge in demand for properties in holiday destinations has been notable since the beginning of March, with the second home market gaining momentum as spring arrives. Recent months have witnessed a sharp rise in real estate transactions across Spain, particularly in holiday destinations along the Mediterranean coast, the Cantabrian coast, as well as the Balearic and Canary Islands, where demand for properties has spiked by 30%.


Home Buying in Spain Set to Increase 7%-10% in 2024, Reports donpiso

donpiso highlights that the anticipated drop in interest rates in the coming months will likely fuel further interest in properties, consequently driving prices upwards. The agency advises potential buyers who do not require financing to act swiftly and purchase their homes as soon as possible. Additionally, donpiso is optimistic about the prospect of cheaper mortgages in the near future, citing that the average net monthly salary per inhabitant in Spain stands at around €1,700. Renters in Spain currently allocate 50% of their salary towards rent, whereas homeowners dedicate 38% of their income to mortgage payments.

The real estate market in Spain is poised for growth, with an expected increase in home buying activity driven by favorable interest rates and rising demand in popular holiday destinations. Potential buyers are encouraged to act promptly to secure their desired properties amidst the evolving market conditions.

Home Buying in Spain Set to Increase 7%-10% in 2024, Reports donpiso

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