In 2022, the Spanish real estate market continued its upward trajectory, fueled by strong demand from both buyers and investors. The market saw an increase in residential property sales, particularly in major cities like Madrid, Barcelona, and Valencia, with an overall increase of 7% compared to the previous year. The favorable economic conditions, low-interest rates, and government initiatives supporting the housing sector contributed to this growth. Property prices in Spain witnessed a moderate increase of approximately 3% on average in 2022. However, certain regions, such as Madrid and Barcelona, saw higher price growth, ranging between 5% and 7%.
Spain has always been a popular destination for foreign investors seeking opportunities in real estate. In 2022, this trend continued, with international buyers showing a keen interest in the Spanish property market, foreign buyers accounted for around 12% of all property transactions. The country’s diverse offerings, including vibrant cities, coastal areas, and picturesque countryside, appealed to a broad range of investors. Foreign investment played a crucial role in supporting the market’s growth and driving development in key regions.
The number of building permits issued increased by approximately 5% compared to the previous year, indicating a positive outlook for new construction projects.