A new study from property website Casaktua.com reveals that homebuyers in Spain have changed their demands when searching for a home, with their priorities now focused on smaller, cheaper, and less well-equipped properties.
The report was created from interviews with 1,100 residents in Spain, 94% of whom believed that the financial crisis had marked a “before and after” when looking for a home in the country.
More than half those asked said they had searched for smaller spaces while 41% claimed that buyers did not mind doing without communal facilities and amenities such as swimming pools, parks and gardens.
Seven out of ten interviewees lived in a flat, 12.5% lived in a semi-detached property and 10% in a detached property. Some 40% of respondents rented their accommodation and of those who would consider buying a home, 28% said they would be willing to spend between €50,000 and €100,000 and a further 26% would budget between €100,000 and €150,000.