Property in Spain – The year 2024

Dear reader,

We are approaching the end of the year 2024, and I would like to take this opportunity to thank you for your co-operation during the year. And not least, thank you for the many loving greetings I have received from you during the year as Brian, my husband and partner in Dahls Estate, sadly lost his battle with cancer. It has taken some time to come out the other side – but I’m here and I’m back in full swing and with ongoing help from the agents I have partnered with.

There are several topics related to the housing market and being here on the Sunshine Coast that have been on my mind this year. Topics such as the water shortage situation, frantic demand for housing, lack of rental properties, uncertainty about tourist licences, etc.

Status of the water shortage

We still have a water shortage – but this autumn’s massive rainfall has alleviated some of the situation. It is said that we have left the drought threshold. In principle, it should be above 29.1 cubic hectometres, and it’s currently around 35 cubic hectometres after this autumn’s massive rainfall. Although this is a good buffer, the authorities are in the process of establishing a more definitive solution for the coast by setting up new desalination plants. The aim is for these to be able to supply 20 cubic hectares per year, which is about a quarter of what the Costa del Sol needs to drink.

Status of the housing market

The property market is also doing well in terms of buying and selling. Demand is still high from virtually all nationalities. Latest published figures for Q3 show that the overall figure in Spain is 23% above the ten-year average, pointing to continued strength in Spain’s property sector.

This increase is not only fuelled by purchases by foreigners – on the Costa del Sol perhaps yes – but overall in Spain, transactions with non-residents have been 18% of total volume. Supported by a generally improving economy in Spain and an increase in demand, the Spanish property market shows no signs of slowing in the near future.

Source – Post-pandemic Spanish property boom rolls on with strong Q3 sales growth

Status on Tourist Licences

If you’re looking to rent out your Spanish property, it’s important that you can obtain a tourist licence. One of the important things to be aware of is whether or not the owners’ association has decided whether or not tourist rentals are legal. In that case, as a buyer, it will be a restriction. And for other buyers, it will be a relief, as they think it provides more peace and quiet in the common areas of the owners’ association. Of course, this is always an individual judgement. The fact is that you can’t advertise rentals without complying with the legal requirements to achieve this. And even if a seller has it – it must be sought for a new owner.

Formal requirements – see here: TOURIST LICENCE IN ANDALUCIA. REQUIREMENTS AND PROCESS

With these words I would like to wish you all a very Merry Christmas and a Happy New Year. I look forward to seeing you in the new year. If you are planning to buy a property, or know others who are – please get in touch with me. The same applies if you are thinking of selling your property here on the Costa del Sol. Please call me on tel. 34 633 406 353 or write to [email protected].

Lene