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Spanish Property Increasingly Attractive


03-01-2012     Author: Matthew Simmons

It has been revealed that there was an increase in the number of overseas property investors buying Spanish property during the third quarter of 2011 when compared to the same period in 2010.

 

The Global Property Guide reported on the figures that were recently published by the Ministry of Public Transactions. The figures showed a 24.7% increase in the number of overseas buyers entering into Spanish property deals.

 

The most popular areas for overseas investors in Spain have also been revealed. These include Alicante, Malaga, Barcelona and the Balearic Islands.

 

Marc Pritchard, Sales and Marketing Director at Taylor Wimpey de Espana, has been commenting that the increased interest from overseas buyers has shown that “many buyers have been discerning enough to strike while the iron is hot and purchase properties that are well priced and in excellent locations”. Those overseas investors that have indeed purchased property in such popular areas will be wise to invest in holiday home insurance as well in order to protect their property investment.

 

Stephen Dight, Managing Director of Mallorca Sotheby’s International Realty, along with Mr Pritchard, has highlighted that Mallorca’s property market is going to be one to keep an eye on in 2012.

 

This prediction by Mr Dight has come after Ryanair announced that it will begin running more flights to and from the island, and that they also intend to open up new routes to and from the main airport in Mallorca.

 

Spanish property investment will certainly be on the radar for many overseas buyers in 2012, and it will be interesting to see what happens in, not just the Spanish property market, but other European property markets too.


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