The search for a second home represents 13% of the total purchase demand, according to Fotocasa

MADRID, 16 Ago. (EUROPA PRESS) -

The search for a second home continues its upward trend that began in 2021 and represents 13% of the total purchase demand, its highest level since 2017, as reported by Fotocasa on Tuesday.

65% of second home applicants opt for the purchase, while 35% prefer to rent these homes. Fotocasa observes in this behavior "a great change of course", with a growth in purchases to the detriment of rentals, as has happened with the demand for primary residences.

The Director of Studies and spokesperson for Fotocasa, María Matos, points out that "it is not surprising that the demand for second homes continues to increase in 2022", although she observes "strong territorial variations such as the falls in communities that historically led demand -Catalonia or Madrid- and the Andalusian and Valencian communities are growing".

In his opinion, the main reason that leads citizens to look for second homes is "investment as a refuge value in the face of a moment of economic uncertainty".

By autonomous communities, as Matos pointed out, demand has grown two percentage points in Andalusia, to represent 22% of the total. In the case of the Valencian Community, the demand has increased four points, and has gone from 7% in 2021 to 11% in 2022.

On the contrary, in Catalonia, this trend has receded 12 percentage points to 6%, and in the Community of Madrid, the interest in the second residence stands at 19%, compared to 21% registered in 2020, before the pandemic.

Fotocasa appreciates a change in the profile of the applicant for a second residence, with a loss of interest on the part of women. A year ago, they represented 52% compared to 37% in 2022, with a distance of 15 percentage points in a year.

In this way, the majority buyer of second homes are men, who account for 62% of the total.

The average age continues with a rising trend up to 41 years. Regarding the socioeconomic situation, the real estate portal maintains that "there is evidence of an increase in the representation of profiles with a lower socioeconomic level."

In addition, the number of applicants who live alone doubles, going from 5% in 2021 to 10% in 2022, and the type of those who live with their parents grows two points, 7%. However, 51% of second home applicants live with their partner and children.

On the other hand, 91% of applicants already own a primary residence and only 9% of those seeking to buy a home to use as a second residence rent their first residence.

When buying a second home, 35% of those interested look at a different town from where they live, but nearby.

People who want a second residence seek, in 45% of cases, a long-term investment, while 39% think that it is a way of building wealth. For their part, 22% consider that it is good insurance for the future.

However, when it comes to materializing the purchase, the price of housing appropriate to their budget continues to be the main requirement for 58% of citizens.

The main obstacles in buying a second home are usually the price (68%), the lack of adaptation of the home to the preferences or expectations of the buyer (49%) or the age of the property (32%).