Spanish second home market redefines itself

There is no such thing as a typical holiday homebuyer in Spain – the market appeals to all.

There is no ‘typical’ overseas buyer of Spanish property. For every secretive millionaire keen to snap up a slice of the exclusive La Zagaleta, there are your more down-to-earth types who have scrimped and saved and can finally take the plunge on their dream home overseas…

However, you can do anything with statistics, which is what real estate portal Donpiso has done – with some rather interesting results.

Their data showed that the average holiday home in Spain costs €200,000, is located near to the coast and is bought by couples aged between 35 and 49, with children and a regular income of at least €3,500 per month.

The cheapest coastal region for Spanish property in Murcia, where a typical holiday home will set you back just €150,000. This figure rises steadily across the Costa Dorada, Costa Blanca and Costa Brava, while second home buyers on the Costa del Sol shell out an average of €350,000.

Yes, you can do anything with statistics. And while it is true that house prices began to rise on the Costa del Sol faster than elsewhere as the recovery took hold, €350,000 is certainly above the mean that one would pay for a typical home in the region.

This figure is skewed by the fact that Marbella is home to the most expensive postcode in Spain, as well as a series of exclusive neighbourhoods and urbanisations that abound with luxury homes. At the more affordable end of the scale, buyers can easily snap up an excellent bargain for around €200,000.

Other trends tracked by the date showed that the busiest time for holiday home buying was in the run up to summer, with demand cooling in the run up to Christmas.

A separate study by Knight Frank heaped praise on Spain’s property sector, stating that it has undergone a radical transformation. “Higher employment, rising disposable incomes and an upturn in consumer confidence are underpinning housing demand with mortgage lending up 20.2% in March 2017 compared to the previous year,” the study said.