Published: 9th September 2013
The Spanish Real Estate Market managed to finish 2011 on a high note according to new statistics released from the Bank of Spain this week. The new figures show investment in Spanish real estate from overseas investors increased by almost 28% for the period through to September, compared with the same period in 2010. During the period, almost €3.6 million in transactions as initiated by foriegn investors, a significant increase on figure of 2.6% the year before.
In addition to the figures released by the Bank of Spain, El Mundo went on to report that foreign investments in Spanish real estate exceeded €1,000 million on three consecutive quarters. This is the first time this has been acheived since the Spanish property market started to see significant falls in 2008.
Many experts feel that the Spanish property market is now at a significant crossroads in its development, with prices now at levels not seen since pre-2007. Whilst external factors such as the Eurozone crisis may still be dictating the overall market sentiment, many feel that 2012 offers significant opportunities for people looking to purchase a property in Spain. Only time will tell how these external factors are going to affect the long term demand, but with the low cost airlines looking to open up more routes to Spain than ever before, it does seem as though the public appetite for Spain is beginning to return.