Nearly 3,410 Belgians bought property in Spain in 2021, some 12% more than a year earlier, according to figures published on Wednesday by Azull, the Belgian market leader in Spanish real estate. For the seventh consecutive year, market observers are seeing an increase in prices (+8% in one year). The average price of a holiday home in Spain is 179,887 euros on average. “We expected a price increase, but this strong increase is still quite surprising”notes the director of Azull, Marleen De Vijt. “Before the health crisis, the numbers had fallen slightly due to oversupply, but that has now completely disappeared.”
While the Costa Blanca is still the preferred holiday destination for Belgians with more than 1,370 purchases in 2021, the Costa del Sol seems to be attracting more and more buyers (815 purchases in 2021). “The Costa Blanca has long been much cheaper than the Costa del Sol, but in recent years property prices have been rising there”says Marleen De Vijt.
The real estate agency recalls, however, that, despite increased purchases for 2021, the figures are still far from 2018, “record year” during which 4,108 Belgians became owners in Spain.