Seville is known for its timeless beauty, numerous attractions, and rich history. The city attracts foreign nationals who want to spend their holidays here or find a new home. In this article, we will consider what you need to know before buying a property in Seville.
Culture and history of Seville
At the beginning of its history, Seville was one of the Roman colonies and was called Ispalis. The Muslims who conquered the city in 712 renamed it Ishbilia. Later, under the jurisdiction of the Caliphate of Cordoba, it became the Taife of Seville. The city bore this name until it became independent.
The Almohads and Almoravids Muslims were in charge of the administration of Seville. It was finally incorporated into the Kingdom of Castile in 1248 during the reign of Ferdinand III. After the discovery of the New World, the city became the economic center of Spain, and its port monopolized transoceanic trade.
Due to the fact that Seville was part of a Muslim country for four centuries, the style of its monuments is influenced by the Islamic artistic canons of that time. Walking through this European city makes people feel like they are somewhere in the northern part of Africa.
Economy of Seville
The city has the highest GDP in the autonomous community of Andalusia, producing a quarter of the region’s total GDP. The villages of Seville are focused on agriculture. Nevertheless, trade and tourism contribute to the city’s economy.
Seville real estate market
The housing market of Seville is developing rapidly. According to experts, the cost of buying a property in Seville should increase significantly during 2022. Since April 2017, it has risen by 28.9%, and it will keep growing. Now the average price per square meter in the city center is 2,516 euros, and beyond the city – 1,528 euros.
The cost of real estate in the city depends on the location, layout, and other features. Most investors invest in houses in central areas, as they are in high demand among tourists. The property here brings a high profit from rental income and capital gains. This explains its price, which is higher than in the outlying areas of Seville.
The yield from renting real estate in the city center can reach 12-13%, and outside it ranges from 5-6%. You can rent a 2–bedroom apartment in the central district for about 632 euros, on the periphery – for 456 euros. The cost of renting a 3-bedroom apartment will be about 1,034 euros and 691 euros, respectively.
We will help you purchase real estate in Seville
To find a property for permanent residence or a profitable investment, please visit the official website https://spain-real.estate/. Study the aggregators catalog with the best housing offers from reliable developers and agencies and contact the company’s specialists Spain-Real.Estate.