In Spain the Real Estate have been crush by the crisis, but apart from being a big problem for many investors it´s an open door for new opportunities. The property prices have gone down significantly, and for those with credit or money in the pockets its time to make a move.
In the overall Real Estate Market, the decline have reach an average of 20% in real terms, and even more in the case of Properties in the side coast were values have downgraded around 40%.
Additionally, Spain offers other benefits apart from the price reduction that promotes foreing investment.
- Geographical proximity,
- Good weather,
- Quality of life,
- Universal public services of high quality, and better everyday infrastructure linking major tourist destinations,
- Legal Framework.
There are other economical facts, that may help on the final desicion when investing or not in a Real Estate in Spain. According to the Spanish State Secretary of Housing, the relationship between supply and demand Properties in mayor cities is reaching an equilibrium, which equals to a leveling in prices and an improvement in sales.
Other fact that reflects why investing into Real Estate at Spain is a huge opportunity, is the significant increase of institutional funds. BNP Paribas Real Estate have shown a 41% rise not residential investment in Spain, with a volume equal to 4,000 millions euros in 2010.
Non-residential Real Estate its about to hit bottom, with a reduction superior to 40%. On the other hand, offices and non-residential real estate depend on rent demand, that is link to the economical evolution of the country.
But with an economy where the banks are not willing to lend money easily, the spanish residents doesn´t have any more the opportunity to buy a house, meaning that renting is the only ovious option. Probably Residential Homes is the market with the highest potential, either for investing in the long term or for renting.
Finally, to have a strong view on what experts have to say in the topic, the Wealth report of 2010, develp by J. Rivero (Metrovacesa president of real estate, and owner of Bami Gecina) said the following on Spain Investment:
First, the Spanish Real Estate Market have reached the end of a cicle that lasted for arround 6-7 years, and a new cicle is to come. Which equal new opportunities for investors.
Second, big family fortunes are now taking a close look at Spanish Real Estate Market.
Third, best places to invest in Spain are Madrid, Barcelona and Mallorca due to its strong economical and turistic activity.
Forth, unlike to other investment, Real Estate are transparent; they are easy to comprehend and fast to analyze.
Said all this, we can see that Spain, and specifically Barcelona, has huge opportunities. In order to make the process simple and easy for you, we offer you to contact us and will be a pleasure to help you.