Investment into Spanish property has seen a dramatic increase over the past 12 months.
New reports have highlighted that the total amount poured into the construction of Spanish property during 2015 equates to €13 billion. This is a 25% increase when compared to 2014 and three times more than 2013. Last year’s record breaking figure even beats investment numbers from 2007, when the property market was at its highest pre-crisis levels.
According to a leading global property group, there is no slowdown in funds for the next 12 months, as 2016 expects to see at least another €10 billion spent on Spanish real estate, which will be used for both commercial and residential properties.
Research has demonstrated that the Costa del Sol in particular saw an impressive increase in property sales last year, and activity for 2016 is expected to pick up in popular coastal towns such as Malaga.
The news follows on from predictions of rising property prices in the new year which will see house prices in Spain finally begin to pick up for the first time following on from the economic crisis.
Sequre’s managing director, Graham Davidson, comments –
“We know that the Spanish economy has picked up dramatically from where it was a few years previously. The financial crisis had a global affect and while some countries are still struggling to get back to a healthy property market, Spain has improved greatly over the last few years. Activity is strong across the board and we know that we are seeing a market in the midst of a strong recovery.”
“High investment levels are great news for the property industry and truly instil the notion that the Spanish market is now back in full swing. Mortgage levels are rising, rental demand is back and people are willing to buy homes once again in the right areas, such as Costa del Sol and Costa Blanca. The favouring pound against the euro also ensures that British buyers will be getting a fantastic deal on property in these particular regions.”
If you are looking for a property in Spain, now is the time to consider your options. Property prices are now 50% lower than they were back in 2008 but prices are starting to rise. Our bespoke one-to-one viewing trips give you the opportunity to see properties within your budget and in locations of interest. Contact us on 0800 011 2639 today and speak to a member of our international team. We work with every developer on the Costa del Sol, Costa Blanca, Costa Calida and Orihuela Costa – we’re positive we can help you find your perfect home in the sun.