Based on studies by Forcadell and other holiday rental platforms such as HomeAway, today we analyse why Spain is the most attractive market in which to invest in a second home. 65% of these second homes are in coastal areas of mainland Spain and the islands.
Spain is the most attractive market to invest in a second home
The area with the highest demand for purchase or rental of summer homes is the Mediterranean coast of Spain, with an average price of €200,000. Portugal (13.2%) and France (13.1%) are just behind our country.
According to the data collected, 44% of owners of second homes in Spain are foreigners. Owners’ behaviour in purchasing a second home varies by their country of origin. Firstly, we should highlight that the British and Dutch buy the most homes outside their own country. Moreover, 95% of Spanish, Portuguese and Italian buyers choose their own country when looking for a second home.
In addition, 28% of Spanish owners cover the cost with the income generated by rent and 38% of them make a profit. Spanish second-home owners make an annual return of around €12,000 and rent their homes out for 19 weeks of the year on average.
Two-bedroom apartments are the most common second home
Two-bedroom apartments are the most common type among the Spanish owners surveyed. When owners buy a second property, they look for: closeness to restaurants and bars (88%), a balcony or terrace (88%) and closeness to supermarkets and shops.
All in all, Spain is the most attractive destination for foreigners looking to buy a second home, which shows that it is a robust market that offers security to future investors.