After almost a decade in which the crisis swept the property sector, it has gradually been recovering and approaching pre-crisis levels. In 2015, when foreign investment amounted to 70% of the total investment in Spain, the signs of recovery were more evident than ever.
The information originates from a report, posted by CBRE, where it was found that Americans, British and French reached more than 45% of total investment in 2015.
Spain is currently on ninth place in the world among the most attractive countries for investors according to the study ‘Real Estate, Hospitality & Construction Capital Confidence Barometer’ and they lead against countries such as France, Italy, Chile, Egypt, Saudi Arabia, Argentina and Australia.
As for the reversal points, there are three main offices, shopping centers and residential sectors. Offices with 5,600 million euros in foreign investment during 2015 and the residential of 600 million euros in 2015 assuming that an increase over previous years is occurring.
Investors from Britain and Central Europe opt for waterfront properties as Americans, Arabs and Russians choose luxury homes in areas including Barcelona and Madrid.
In addition, since last June, UK decided to leave Europe. Many British citizens are contemplating moving to Spain.
The Brexit has encouraged foreign investment in Spain. Agencies have registered a marked increase in inquiries from British customers disappointed by the result of Brexit. They are now more eager to find a home in Madrid, Valencia and Barcelona. This is also due to the economic recovery of Spain and the as well as a greater chance of finding employment in these cities.
According to a study by London School of Economist posted roughly a week ago, the desire to leave the UK increase by 30% among the UK citizens. Spain was among the top three destinations of interest, after Australia and Canada.
Despite the fall of the pound, investment in real estate assets in Spain remains attractive (below 30% and 35% below the peak reached in 2007). Furthermore, Spanish banks are still offering very competitive mortgages.