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According to Fotocasa, demand for the purchase of a second home is at its highest level since 2017

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Demand for the purchase of second homes continues the upward trend that started in 2021 and has increased by two percentage points in 2022 and has already reached its highest level since 2017, according to Fotocasa.

Before the outbreak of the pandemic in 2020, the demand for a second home was 9%, continuing the downward trend that has been ongoing since 2018, which was interrupted in 2021 at 11%.

After two years of the pandemic, the search for second homes continues to increase, accounting for 13% of total home purchase demand, representing a 44% increase in purchase demand since the pandemic began.

According to Fotocasa’s analysis, 65% of these second home seekers want to buy a second home and 35% want to rent, resulting in a significant change in direction as purchase demand grows by 9 points at the expense of rents.

In 2020 the demand trend was 40% buy versus 60% rent, but in 2021, in the midst of the transformation of the market, rent began to lose weight with 56% versus 44% buy.

In terms of territorial distribution, Andalusians are the ones who demand the most housing as a second home, as they represent 22% of the total after growing by two points since 2021. The four-point increase in demand for second homes is also relevant. Housing construction in the Valencian Community, which increases from 7% in 2021 to 11% in 2022.

The biggest change is in Catalonia, where demand falls by 12 percentage points to 6%, even below the 2020 level (9%). Madrid residents have also lost their appetite for buying second homes since the start of the pandemic (21% in 2020), which has gradually declined to 19% this year.

The main difference from last year in terms of buyer profile is that the female group has decreased by 15 percentage points from 52% in 2021 to 37% in 2022. Hence the majority of buyers of second homes is male (62%) and the median age continues to trend upwards to 41 years.

Source europapress.es

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