Moraira Property Market Review 2020
A review of the housing real estate market for year 2020 in Moraira, Costa Blanca – by Brassa Homes®
MORAIRA PROPERTY MARKET REVIEW FOR 2020
In this review, we must differentiate the year in two parts, post covid-19 and during covid-19.
The year 2020 started with a strong demand and it seemed that the real estate market in Moraira and on the Costa Blanca was experiencing an increase. However, in March, due to lockdown and flight restrictions, demand fell behind.
Real estate agents have had to reinvent themselves and use new forms of communication such as virtual videos, live videos through whatsapp and other virtual tools.
Some owners have decided to sell their properties in Moraira at a reduced price in order to return to their home countries. Creating good opportunities for investors or for those who have seen a good opportunity to buy property in Moraira.
From Brassa Homes® we can say that the price of housing in Moraira has fallen by about 20%, according to the sales made during the pandemic.
Most experts point to a decline in prices, although they do not agree on the magnitude of that decline. However, Spain is still a country of buyers, so sooner or later it is very likely that both the demand for housing and its price level will return to the usual figures.
In any case, there seems to be a consensus among most analysts in the real estate sector about a possible recovery in average house prices for the years 2022 and 2023, where they could reach and surpass the levels of 2019.
THE FUTURE OF PROPERTY MARKET IN MORAIRA
Because of the lifestyle and security, Moraira and in general the whole of the Costa Blanca is difficult to beat.
Living in Moraira is still affordable, with prices below the European Union average.
Spain has an enviable cultural tourism with many cities and towns declared of cultural interest by UNESCO, which is another incentive.
Our coast and beaches are very well looked after and our weather is ideal with over 330 days of sunshine a year and an average temperature of 18º during the winter.
Moraira still the most exclusive town in the entire Costa Blanca with an average price of 2.905 €/m2 followed by Jávea 2.423 €/m2, Benissa 2.254 €/m2 and Altea 2.091 €/m2.
Thanks for reading my blog entry about the Moraira Property Market Review for year 2020.
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Vicente Ivars Ros - Brassa Homes®