The Average Property Price of Spanish Real Estate to Increase by 6.1% in 2018
- Written by: Editor
- Posted: 2018-01-31
The property market recovery began in Spain in 2012-2013. Since then, the prices for real estate properties started to increase and, beginning with March 2014, the National Institute of Statistics in Spain (INE) registered steady increases for each month up until this moment. Businessmen interested in investing in the real estate sector must know that the highest rate of purchases was recorded in the regions of Balearics and Almeria.
For 2018, the average price for real estate properties is estimated to increase by 6.1% and the estimates show that the prices will return to the values registered in 2004-2005, prior to the beginning of the economic crisis in Spain. Our team of Spanish lawyers can advise businessmen on the regulations concerning real estate projects carried out here.
Top regions for property market in Spain
In the last few years, several Spanish regions registered the highest rate of development in the field of real estate. Some of the leading regions were represented by Marbella and Costa Blanca. The latter developed at a fast pace, due to new investment projects in this sector.
Spain represents a leading destination for foreign buyers and the region of Alicante was the favourite location for real estate purchases completed by foreigners (40% of all foreign purchases).
The market developed in the last years due to the interest of foreigners in buying a property in Spain, and the leading country was, in this case, the United Kigdom (UK). The other main categories of foreigners were the following:
• foreign investors who are citizens of states outside the European Union;
• citizens living in northern European countries.
Prior to purchasing a real estate property here, it is advisable to receive professional assistance and, in this sense, natural and legal persons may address to our team of lawyers in Spain.
Foreign investors in the Spanish real estate
Numerous investment opportunities can arise in various regions of Spain but, as a general rule, touristic destinations are preferred by foreign investors.
As mentioned above, a large number of foreign investors are drawn on this market, most of them arriving from the following regions:
• Eastern Europe;
• United States of America;
• Latin America.
The EU is also represented in this case by the following countries:
• the Netherlands;
Businessmen are invited to contact our law firm in Spain for more details referring to the Spanish real estate market.