2023-08-27 12:40:38
The coast of Galicia
In the area that borders Portugal to the west, buyers of holiday homes can still find relatively cheap deals.
(Foto: Moment/Getty Images)
Madrid Spain has been the most popular holiday destination for Germans for years – and the most popular destination for second homes. “In no other country are so many buyers from Germany looking for a holiday property as in Spain,” says Thomas Zabel, Managing Director of the housing agency at real estate consultants Savills in Germany.
According to the largest Spanish real estate appraiser Tinsa, the prices for holiday properties have risen by 6.3 percent within a year. They now cost an average of 2550 euros per square meter on the Spanish coasts and islands. In contrast, prices in the general residential property market in Spain have changed little since the end of 2022.
The reason for the rising prices of holiday properties is the higher purchasing power of those who buy a second home. They often pay without credit, for example from savings. Therefore, rising interest rates do not play a major role for them.
Buying a holiday home: interest in real estate in Spain has risen sharply
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