Expert
Predicts Spanish Real Estate Prices Set for 6% Increase
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| Spain's recover looks to continue its uptrend |
Humphrey White is the head of the Spanish division of
British real estate agency Knight Frank. White says the strengthened economy of Spain is going to spur on strong and sustainable demand with Spanish buyers ,
while the country will always be a favourite for international investors
looking for a popular place in the sun.
White went on to add that the lack of speculative promotion
has really helped the Spanish property market. This has brought about renewed
confidence in the sector, along with transparency and sensibility.
The result is that there are areas of Spain where there
simply aren’t enough good quality houses to go around. So there is room for
banks and real estate developers to take to these areas and increase the supply
to meet the new demand.
The agent says that Spain currently has a fantastic
opportunity to bring in new companies because it offers them high quality properties in prime locations such as city centres near airports, along with a
whole host of qualified professionals.
A recent report from Frank Knight showed that Madrid and
Barcelona are in the list of the top 20 destinations for the mega-rich; for
both residential properties and investment in commercial real estate.
Data published just last week by the National Statistics Institute
showed that the amount of foreign buyers investing in Spanish homes increased
just under 20% in 2016; with foreign investors accounting for one-fifth of all
the homes sold in Spain.
While Brits have always been the biggest demographic of foreign investors in Spain the data also shows that they aren’t growing as quickly in
the third quarter. This drop was made up by an increase in interest from other
nations including France, Italy and Sweden. The amount of Russian investors
however continues to drop.
