What a difference a year makes. Last year the Spanish real estate market looked like it was on shaky ground due to international investors’ reservations about the economy and there was much speculation as to whether property prices had already bottomed or still had further to fall. Fast forward to this year and the situation is much more positive.
Attitudes to the Spanish real estate market have completely changed since last year with 67% per cent of respondents in agreement that Spain now represents a good investment opportunity.
The latest version of PriceWaterHouseCoopers’ “Emerging Trends in Real Estate” report, produced in conjunction with the Urban Land Institute, announced “an extraordinary turnaround in sentiment towards Spain”. It appears that this amazing volte face occurred within weeks of Sareb, Spain’s so-called ‘bad bank’, opening for business last year, creating a flurry of investment activity. What’s more, the market’s renewed fortunes are due to continue throughout 2014.
Although signs of growth are evident, recovery will be seen in the medium, not the short term. Which is to be expected, but it is certainly good news for anyone looking for long term investment potential.
If you would like advice about Spanish property investment or to discuss options for purchasing or selling property in Spain, contact Siesta Real Estate at info@siesta-realestate.com
