In a Real Estate market like the Spanish one, which is protagonist of the deep economic recession that has lived since 2007, foreign investment is still key to the recovery of the Spanish Real Estate sector.
Housing prices have remained stable in almost all European countries, including Spain, although prospects seem to be quite optimistic. Simon Durkin, head of Real Estate strategy in Europe for Deutsche Asset & Wealth Management, in an interview to the Spanish newspaper Cinco Días said that “now is an interesting period to invest in Spain” and ensures that the Spanish property market offers a great opportunity to foreigners, residents and non-resident investors.
Indeed, the key to the recovery could come from outside. The purchase of private housing by foreigners experienced in fact, in the second quarter of 2015, an increase of 11.9%, with the sale of 18,456 homes. Non-residents continue to gain ground and now represent 54.3% of the transactions done by foreigners.
Catalonia is among the Autonomous Communities where such growth was recorded. Specifically, sales of private housing accounted for 18.7%.
According to other sources, British (16.7%), followed by French (10.5%), Russian (7.1%), Germans (6.6%), Belgian (6.1%) and Swedish (5.7%) are the one that invest more in real estate, although the number of Irish, Chinese, American and Italian buyers has significantly increased. Given that the rentals dropped to 40%, that profitability is at record levels and the current access to finance, something difficult to obtain up to a year and half ago, we consider that yes, it is time to invest in Spain.