The swimming pool, the new 'emblem of comfort' that enhances the value of homes

Although several years have passed, the long weeks of confinement still resonate in the collective memory of today's home seekers. The pandemic reconfigured priorities and reinforced a trend that consolidates the value of outdoor common spaces, terraces, balconies, and a good orientation. Among all of these, the pool has gone from being a luxury item to becoming a relatively common feature in homes sought by buyers, experts indicate. "A pool represents comfort, exclusivity , and a space for family or social recreation. Properties that don't have a pool are often discarded in the early stages of the process by discerning buyers, especially if the property is located outside the urban center and belongs to the high-end market," explains José Oliveros, director of Gilmar Pozuelo. This amenity has also become a standard element in new construction. "Rather than positively impacting the value of the property, we could say that the lack of a pool can be a penalty," notes Ángel Fernández, director of Visado at Tinsa by Accumin.

The market has internalized this added value to the point that it's no longer valued as a luxury, but rather as an almost necessary feature, especially in multi-family developments.

On average, according to industry data, properties with a pool cost 55% more than those without. But this difference is not uniform. In Madrid, the impact barely reaches 5%, while in cities like Barcelona, ​​Teruel, and Bilbao, the gap exceeds 60%. In places like Santa Cruz de Tenerife, prices can even double, explains Antonio Pérez de la Torre, general manager of Alfa Inmobiliaria. The effect is also noticeable in the rental market: rents rise between 15% and 30%, especially in tourist and coastal areas, where having a pool is no longer an extra and becomes a requirement for many tenants.

Adding to this shift in preferences is a more tangible obstacle: the shortage of supply. According to their latest study, only 24% of homes for sale in Spain have a pool, a fact that partly explains the strong pressure on prices. This trend, according to their forecasts, will continue to rise in the medium term, as is the case with other elements that enhance comfort and leisure within the home. The fear of longer, hotter summers, linked to global warming, has only reinforced this perception of value.

"The importance of this equipment is never quantified in isolation, but rather in relation to other features of the property," Fernández emphasizes. According to data from Tinsa, the impact a swimming pool can have on a property's value can reach up to 15% in multi-family homes (with a shared pool) and up to 18% in single-family homes with a private pool. But beyond the numbers, there is a less visible and no less important effect: the commercial impact. "Not having a pool also reduces demand. And the time to market for similar products can be significantly extended if the property lacks one," he adds.

At the same time, rental demand for homes with pools clearly increases during the spring and summer months. Both buyers and renters are looking for options with amenities that provide well-being and leisure without leaving home. This preference translates into a reduction in the average sale or rental time, especially in coastal areas or areas of high tourist interest, where a pool is perceived as an essential asset. Although most purchasing decisions are planned in advance and the spring and fall months are those with the highest number of viewings and closings, it is in the summer that rental demand accelerates significantly.

However, this appeal has its downside. These homes often come with associated maintenance costs that can range from €150 to €1,000 per month, depending on the size, management, and use. This is an expense that not all households are willing to assume and could act as a deterrent in some markets. Where demand does appear to remain strong is in those areas—mainly coastal developments or suburban areas—where swimming pools provide a clear unique value and supply remains limited.

The greatest impact on price and demand continues to be seen in coastal areas with high tourist influx. In the Balearic Islands, for example, 47% of homes for sale have a pool, and the average price has risen by 12% so far in 2024 alone. On the Andalusian coast and the Canary Islands, the price difference can exceed 10% annually, driven by constant demand, especially in the second-home segment. But the phenomenon is not limited to the coast. In many inland capitals and cities with intense summers, having a pool can make a significant difference, with price premiums ranging between 50% and 60%. In luxury inland developments, the pool is the most in-demand outdoor feature, even above gardens or terraces, according to Gilmar.

On the other hand, in northern and western Spain—where this feature is less common, with a presence of around 10%—a swimming pool also significantly increases home values. Madrid is an exception: the greater availability of residential developments with swimming pools limits the premium, which remains in a more moderate range, between 3% and 5%.