Covid-19 has brought an increase in interest in larger houses, with outdoor and private spaces in natural settings. Areas outside of large cities and rural areas are once again in the sights of many workers who can telecommute. The Institute of Valuations considers that this panorama represents a great opportunity for Emptied Spain.
However, the Institute of Valuations emphasizes that in order to really promote rural repopulation, measures must first be taken into account that favor the access of the inhabitants of these areas to basic quality services such as internet or educational and health centers.
The experts of this firm have analyzed the habits and motivations of the future buyer, defining some trends that could help boost the rural real estate market:
– Interest in second residences where to telework: The houses in the mountains or in the country have always been presented as an ideal second home option to spend weekends or summer, due to the outdoor and independent spaces they offer and the tranquility of their surroundings. After the time recently lived in Spain due to the arrival of the pandemic, it is possible that people show greater interest in having a home in rural areas outside of large cities, where they can spend their free time in quiet environments with a lower density of population (which also implies less risk) or even telework if possible.
– Homes adapted to current demand: Due to the extensive land available in rural areas, the possibility of a home adapting to the demands and interests presented by the interested parties right now is much greater. This type of housing can accommodate terraces, gardens, swimming pools and even extra rooms that can be used as offices. Regarding its price, in some cities such as Ciudad Real or Teruel, its average market value is below that of large cities such as Madrid and Barcelona.
In the second quarter of 2020, the average market price in Ciudad Real or Teruel was € 1,007 / m2 and € 1,030 / m2 respectively, while in Madrid and Barcelona it reached values above € 3,000 / m2, according to the Institute of Valuations.
– Peace of mind, sustainability and well-being, among the priorities: after the exceptionality of recent months, many people have realized how valuable their personal well-being is, both physical and mental, and who have learned to value free time at home or saving time and stress that means not having to catch traffic jams or public transport to go to their offices. On the other hand, respect for the environment and sustainable practices are also prioritized, which in rural areas is much easier, since local production and consumption or care for the nature that surrounds these areas is promoted.
– Investment possibilities with good profitability: This year, and possibly in the near future, the trend is towards more domestic tourism. You are choosing to spend your holidays in rural or coastal accommodations where preferably there are not many crowds and where the worries are the least possible. Thus, the current situation could be conceived as a good time to make the most of savings by investing in the more rural Spain, where good opportunities could be found, both for self-enjoyment and with profitability objectives throughout the year.
– The higher the interest, the larger the housing stock: the construction of new construction in areas such as Ciudad Real or Teruel, where between the months of January to April 2020, 210 and 119 new construction housing management visas have been granted respectively, according to the latest data from the Ministry of Transport, Mobility and Urban Agenda, is much lower than in other cities with higher demand such as Madrid (4,729) or Barcelona (2,835). Thus, it would be logical to think that, if there were a real increase in interest in rural areas as destinations to live or to invest in second homes, this housing stock could increase, which would also have a positive impact on the supply of services in adjacent areas .
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