Tuesday, 10 January 2017

American Demand for Spanish Property up 25%

With more flights connecting to America were seeing
record numbers of American coming to the Costa del Sol
American Demand for Spanish Property up 25%

The latest data from the USA shows that American interest in Spanish property has increased 25% following the November 8 Presidential election.

LucasFox.com is reporting that during the first four weeks following the election there was a large increase in American interest compared to the four months before the election. While not everyone likes the sound of President Donald Trump, experts believe that the rise in interest is fuelled by more than just the fear of the new president.

While some in the States have been left disillusioned by the success of Donald Trump, there is also the impact of the increase in low-fare airline routes between the USA and Spain to consider. This is undoubtedly having an effect on the demand for property in Andalucía.

While the change is good news it’s not been long enough to confirm it’s a trend just yet. The rise in American interest following the election is similar to the rise in British demand following the Brexit. Obviously though many Americans will be taking advantage of the new routes Norwegian Airlines plans to open in 2017.

Americans will be able to benefit from the Golden Visa system that Spain introduced in 2013. With the Golden Visa non-EU nationals will have the right to reside in Spain if they invest at least €500,000 in Spanish property. Many buyers from the US, Russia, and China have found themselves attracted by this particular carrot, and it will likely be a major factor in keeping Americans interested in Spanish property in years to come.

44-year-old American lawyer Robert Edwards, who has himself benefited from the Golden Visa, says that there is a richness of culture to Spain; it is filled with great architecture, food and wine, and is complemented by the lifestyle, street life, and endless festivals. Some things in Spain just don’t exist in America, and the price is right if you stay out of Madrid and Barcelona.

LucasFox are also reporting that there has been a 30% increase in sales to American buyers year-on-year between January and November of 2016. The most popular markets are Barcelona, Madrid and Málaga.