Different kind of lifestyle
Spain has the top spot for buyers and investors
The Spanish construction market size was valued at $171 billion in 2022 and is forecasted to achieve an AAR of more than 2% between 2024-2027. the industry’s growth will be supported by investment in the energy, transportation, industrial and housing sectors.
The upward trend since 2022 has been down to a sharp focus on infrastructure, transportation, sustainability, energy efficiency and innovative use of local materials.
Looking at recent trends from 2021 post Covid until now, there is a growing demand for new residential construction in Spain. The main reasons for the higher demands are:
- During the hard confinement people started looking for other places to live.
- Buyers are attracted to the location of new construction.
- New homes are built with energy efficient features like Solar Panels and underfloor heating, providing the owner with significantly reduced utility bills.
- One is able to personalize important home fixtures like floors, walls and layout of the home.
In the Costa Blanca the demand especially for the second home has increased by 50% since mid February, according to real estate experts, and it seems this figure is to rise during 2023. Unsurprisingly, due to the high standard of living, the international interest has been second to none.