The Royal Institute of Chartered Surveyors (RICS) believe the stage is set for Spain to return to a property boom.
The latest data from RICS suggests there is renewed interest, in particular, in the commercial property sector and the residential market is enjoying reflected growth as a result of this.
RICS’s chief economist Simon Rubinsohn said: “There is now clear evidence of an improvement in the tone of real estate markets in an increasing number of European countries. Investors have been particularly active in a number of the markets worst hit during the global financial crisis but our latest test results also show the beginnings of an upswing in occupier demand which is ultimately key to a sustainable recovery across the continent. The results for Spain, Portugal and Ireland are particularly encouraging and broadly consistent with the strengthening macro newsflow that these countries have delivered in recent quarters.”
Both Spain’s residential and commercial markets have witnessed growth in buyers from outside the EU, particularly from countries such as the UAE, Russia and China.
This is in large part due to the government’s Golden Visa scheme, which offers special residency permits to buyers of property over €500,000. Moreover Chinese property has recently underperformed while Russia has been hit by sanctions. Therefore, far from the situation two years ago, Spain is now seen as something of a safe haven for investors with fantastic lifestyle appeal to go with it.
EH International offers two fantastic products in the Marbella area, Cosmo Beach and Valley Heights. To find out more about these investments or how a Golden Visa can be obtained, contact the company sales team now.