2021: one of the best years in property sales on record!

Raymundo Larraín Nesbitt, February, 21. 2022

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By Raymundo Larraín Nesbitt
Abogado - Lawyer
21^st of February 2022

As we had been pointing out over the last year, a series of factors have built up to create excellent buying opportunities. Real estate experts share a general consensus that now is the right time to buy property in Spain, specifically in Andalusia.

We collated and reviewed at length the reasons behind this property boom, specifically in the region of Andalusia in our article: Tax breaks on buying property in Andalusia extended indefinitely! – 8th of December 2021

As El Mundo, the second most important newspaper in Spain, reported last week, 2021 became one of the best-performing years in property sales since 2007. It ranks only second to the historic property boom that lasted a decade in Spain (1998 – 2008) and turned thousands of investors into affluent people.

2021 saw 565,523 house sales. We need to go back 14 years to witness such a good year. This is almost a staggering 35% increase in property sales year-on-year.

Out of all of Spain, Andalusia ranks as the number one region in increase of property sales, along with La Rioja (no beach), with a whopping 43% YOY. Andalusia ranks in Spain as the third region by overall number of property sales.

And within the region of Andalusia, Malaga province shines and crowns itself as the best-performing province by number of property sales. Some districts in Malaga have appreciated in value by over 40% over the last two years (source, source, and source)! If that is not a property boom, then frankly I don’t know what is.

I am not going to repeat all the reasons - that I have been collating in several articles – which explain this real estate success. Suffice is to say that the main one is the massive, and I mean MASSIVE, tax reduction which turned Andalusia into the number one region in Spain with ultra-low taxation, besides Madrid.

If you like paying little to no taxes, Andalusia is your kind of place.

Malaga, Europe's Southern California – 5^th June 2021

Clearly, the best two ways to hedge your savings in a high-inflationary context are gold and real estate; traditionally investor’s save havens during uncertain times.

Can you afford to miss out on the property boom?

At LNA we can assist you buying, selling or renting out your property in Spain. We have 19 years’ experience in conveyance & tax. We are also specialized in Immigration & Residency permits.

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