While in Spain the coronavirus crisis has not caused property prices to collapse, in many famous cities they have fallen significantly, leaving some great investment opportunities as market recovery. doha apartments
It is safe to say that up to now, the pandemic has not led to the drop in property prices hunters had expected in Spain.
However, there has been price declines in coastal areas and other large cities such as Madrid and Barcelona, hard affected by the stagnation of the tourism industry in Spain. The resale price in many of these regions has dropped 5 to 10 per cent.
But in 2021 overall prices rose again – +1,6 percent in January – which means the window of opportunity could be narrower than anticipated, although it may be determined by the performance of the Spain summer tourist season.
Is investing in Spanish property still worthwhile?
The latest report by Atlas Real Estate Analytics, a Spanish property consulting company, states that potential return on investment is large in some cities.
121.273 assets existed in Spain in March 2021, which were below market value.
To determine which Spanish cities offer the best return on investments for buy-to-sell or buy-to-let investors, the Company has determined the position and price of the properties (maintenance status, place, height, orientation, number of rooms, services offered etc.), and then compares them with other similar assets.
"In the first place, the economic impact of the pandemic and decline in direct sales have been among the factors causing the fall in prices, although the key price difference is in the condition and maintenance of the property between comparable and equivalent properties," explains Atlas Real Estate Analytics.
"The data collected in this study is a great opportunity, whether for individual buyers or big holders, for all forms of investors looking for opportunities in the current context," Alejandro Bermúdez, their company CEO, says.
The following ranking includes the results for seventeen Spanish cities from highest to lowest in terms of average profit/value rise, as well as the amount of properties to be purchased in each city below the market value and give certain investment opportunities.
Samoëns Natural beauty, French Alps
Samoëns is an economical alternative to Val-d'Isère and Courchevel for property hunters, which is within an hour from Geneva Airport. Samoëns – the pronounced 'Samwan' is part of the 265 kilometer-long Grand Massif ski area – the fourth largest in the world.
The old farming village is the only ski resort that is listed as the National Caisse of Historical Monuments, a National Heritage Site. The historic stone buildings represent the ancient part of the village, which was a stonemasonry centre. The Gothic church and the botanical garden with over 5,000 plants are also the highlights of the village. Each week, the village square hosts one of the largest markets in the area.
There are walking, hiking and mountain biking paths in late spring and summer, white water rafting and paragliding for the more adventurous, says Erna Low. There are wine degustations, yoga courses, concerts and live music activities. Family hobbies include bird watching, swimming pool water slides and an adventure park.
Le Pre d'Anne-Chloe one-bedroom cabins are available through Erna Low for approximately €304,200. Larger properties up to € 684,400 are also available. The apartments feature furnished interiors, wide terraces or balconies, fully fitted kitchens, ensuite bathrooms, lockers and a quiet covered car park in the two-season resort. Pre d'Anne Chloe is a new development near the Samoëns centre.
It consists of just 24 apartments divided into three stand-alone chalets, 18 apartments ranging from 1 to 3 bedrooms and six triplex semi-cabins with four and five bedrooms.
"The Samoëns have been crying for the last few years for Samoëns to benefit from this beautiful and sporty alpine area," says Erna Low. "With an average cost of €5,000 per SQM Le Pre d'Anne Chloe.