Spanish property: putting a price on the feel-good factor

Spain never lost its wonderful climate or scenery during the lean years, and as the good times return the country feels more joyful than ever.

Raw data and statistics may be effective in showing the direction and strength of certain trends, but when it comes to something as visceral and life-changing as buying a property in Spain, the less-tangible emotions often come to the fore…

In analysing the latest set of positive data on Spanish property last month, Knight Frank’s leading property consultant mentioned how the “feel-good factor” was having a positive impact on prices and sales volumes across Spain.

But what is this feel-good factor? Can it be accurately measured? Or is it more of a general sense of excitement at how Spain’s economy is performing right now?

Think of your last holiday in the sun. You probably don’t remember exactly how much you spent, the time of your flights, maybe even the name of your hotel – what tends to linger is how the warmth of the sun made you feel; how the sand between your toes relaxed you, and how the warm evening breeze made al fresco dining a seemingly magical experience.

For Spain’s property sector right now, similar waves of positivity are washing over it. Sure, the fact that prices are rising, sales volumes are increasing and interest is coming from all corners at home and abroad certainly underpins this positivity, but beyond the hard data is a growing sense of “this is Spain’s time”.

Spain is not without its problems, of course. But after pretty much a decade acting as one of the poor men of Europe, the sun is beaming pleasantly on Spain’s smiling face – and the effects of this are trickling down to the average Spaniard, who are now more job secure and better paid than they have been for more than ten years, and also the average homebuyer or holidaymaker, who now have more choice, quality and affordability at their fingertips when they head to Spain.

Summer may be over in most parts of Europe, but the sun shines on – metaphorically and literally – in Spain right now, and looks set to for some while yet.