With the summer in full progress, it’s a good time to look back on the first half of 2022. It has been a busy six months indeed! In the first quarter of the year, sales were up 23% in Southern Spain, compared to the year before (Spanish Property Insight). Whilst 2021 was already a very good year for the country property market in Andalusia, we noticed a continuous increase in demand in 2022.
Live the dream
After being restricted for two years, the regained freedom had a positive effect on all of us. It made us pause and reflect on what is truly important in our lives. Amongst others, valuable time with family and friends and not postponing our dreams! During this first half of the year, we saw an increase in sales to people looking to settle semi-definitely in Andalusia. Buyers were coming from large cities, busy bureaucratic lifestyles and top-performance jobs. We find that homebuyers look to scale down their hectic lives and enjoy the luxury of space, nature and tranquillity.
Working from home has also motivated buyers to settle elsewhere, for part of the year, since they are no longer bound by location. This is why our niche market has been boosted. Most of our clients nowadays are Scandinavian, Dutch, Belgium, British and German. An interesting development is that the French, American, and Latin-American nationalities are on the rise this year!
Unique propositions in the country property market of Andalusia
Our portfolio represents unique country properties that you will not find twice. The setting in nature, the architectural details and the authenticity of Andalusia, to name a few, are still very sought after. The supply of houses was running out and we turned from a buyers-market to a sellers-market quite quickly. On several occasions, we had various clients looking to buy the same house. Simply because there was no replacement or comparable property available. For this reason, we have ventured into the Andalusian rural areas to find more hidden gems.
New law for building on rustic land
The good news is that in December 2021 a new law has been approved for building in Andalusia, the LISTA. This law opens up the possibility to build on rustic land. However, the exact regulation is still to be published. We are expecting the details to be approved in mid-October 2022. It will probably take some time for the town halls to understand the new possibilities and restrictions, but we are extremely excited that we can offer our purchasers a pinch of hope! The law will create new possibilities and we have our team of legal advisors, architects and builders ready to assist our clients to build their dream homes!
A shout-out to rural property owners
Nevertheless, we want to do a shout-out to our network of country property owners! If you are considering selling, do not hesitate to contact us to discuss. Even though construction will become possible, it is not going to be for everyone. We are still highly relying on existing properties and there are only so many houses available in the countryside. And as you can imagine, prices have gradually increased.
With decades of experience, we have profound knowledge and understanding of the country property market in Andalusia! We can give you an accurate valuation and may even have a client in the database waiting for you to put your home on the market! Because of our extensive network, our successful marketing strategies, our constant growth with social media channels, and the whole V&F team’s hard work & dedication, our properties in our portfolio have been selling fast.
What to expect for the second half of 2022
Various sources expect a slowdown in the economy in the second half of 2022. The Interest rates are going up, inflation rates go through the roof, and the growth of the economy is diminishing.
However, we don’t see this as harsh in our niche country property market in Andalusia. We have noticed that the gloom and doom theories make our clients reflect on their lifestyles even more. There is a growing demand for properties with their own water and energy supply, to name one of the side effects. We also see property owners investing heavily in renewable energy supplies.
In general, we notice in conversations with colleagues, professionals and clients that it is time to re-think the future and to walk the talk. We are living in a global society, a multicultural world, and want a sustainable environment. Every single day there are new things to be discovered, new lessons to be learned and what better place to entertain in this than the Andalusian countryside!
Enjoy the Summer!
Oscar, Anita, Nienke, Rebecca & Aurelia.
Rebecca Marriott | 12th August 2022