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News: Foreign Investors Seeking to Invest in Spanish Property Today

Foreign Investors Seeking to Invest in Spanish Property Today

International investors are apparently willing to invest as much as 14,000 million euros in the purchase of real estate assets in Spain over the next twelve months, according to a substantial survey carried out by consultancy firm Knight Frank, amongst 184 international investors.

Spain is on the list of European countries most attractive to investors, and has now risen from sixth place to third, which shows its rapidly increased popularity. In particular, Spain is currently the preferred country to invest in for 11.6% of the investors surveyed, behind only Germany (23.3%) and the United Kingdom (39.4%).

The stabilisation of the Eurozone, 'signs of improvement in the economy' and the property price adjustments accumulated in Spain since 2008 are - according to the firms interviewed - the main factors encouraging them to include the Spanish market in their investment plans.

"Spain is the country that has undertaken the largest correction of prices in the EU, with cuts of up to 65% in property prices", said Humphrey White (Knight Frank's Business Director) in a recent statement. The firm also believes that "the Spanish market is benefitted by the very high prices per square metre quoted in

all major European cities". In this sense, more than half of the investors surveyed by Knight Frank indicated that cities like London or Paris "have lost their interest due to the low profitability currently provided of below 4% in many cases", and are now contemplating operations in other cities such as Madrid or Barcelona to "guarantee the path to higher investment".

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