Even though the prices are still decreasing – they fell by 6.3% in the first quarter of 2014 – the residential market has glimpsed bright sights. Loans have increased by slightly 2% in March, the first raise since April 2010 and the price by square meter also increased by 1.6%.
Experts agrees to say that the real resumption of the Spanish real estate market will not take place before 2015 but what we see today is a good reason to be optimistic.
Chinese buyers represent only 3% but are expected to invest much more in a foreseen future. Indeed, commercial trades and culture ties are increasing: Spanish exports to China will attract more Chinese visitors than ever before.
In 2013, the percentage of international transactions out of the total volume of property sales reached a new record with 11.1%. Foreign buyers represented just 4.24% in 2009. Many of the international buyers are expecting the market to take off and do not want to miss the potential opportunities of the Spanish market.
The above article was originally published on EdenHome, and can be read in its entirety by clicking here.