In a trend that has sparked great interest among potential buyers and real estate analysts, there has been a notable increase in the availability of properties priced at less than 700 euros per square meter. This phenomenon, mainly concentrated in peripheral urban areas and some medium-sized cities in Spain, is generating significant dynamism in the sector.
Several factors come together to explain this phenomenon. Firstly, the oversupply of homes built in the last decade is pushing prices down in certain locations. This is compounded by the increasing difficulty in accessing mortgage credit, which forces sellers to adjust their expectations to the current economic reality, characterized by salaries that are not keeping pace with the cost of living.
A notable case can be found in the Valencian Community, where certain inland municipalities have seen prices fall below the 700 euros per square meter mark. These reductions have made it possible for young couples and families with moderate incomes to seriously consider purchasing a home. According to data from Idealista, one of the country’s leading real estate portals, the supply of such properties has grown by 15% in the region over the past year.
On the other hand, in Andalusia, provinces like Jaén and Almería are also experiencing a similar trend. Although traditionally less in demand than other more touristy coastal areas, these provinces are attracting new residents thanks to their competitive prices and the appeal of a quieter and more affordable life.
Experts emphasize that, although these opportunities are attractive, buyers should be attentive to several aspects before making an investment. Points to consider include the quality of construction, the availability of services, and connectivity to larger urban centers. Additionally, it is recommended to conduct a detailed inspection of the property to identify possible repairs or necessary renovations that could increase the final cost.
Regarding the buyer profile, there has been a growing interest from both national and foreign investors looking for affordable properties with the intention of renovating them and subsequently renting them out. This movement is revitalizing some communities that had fallen into disuse following the global economic crisis of 2008.
The Spanish government and various consumer associations have expressed their interest in monitoring this market segment to prevent possible speculative practices and ensure that properties meet minimum habitability standards. Initiatives are also being promoted to encourage the rehabilitation of old buildings, focusing on energy efficiency and sustainability.
In conclusion, the growing number of properties available for less than 700 euros per square meter opens up a window of opportunities for both residential buyers and investors. However, it is crucial to approach these acquisitions with care, ensuring that they are safe and beneficial long-term investments.
Source: MiMub in Spanish