If you are interested in buying a property in Spain and want to know which location is right for you, then enjoy this insight into three of the most popular places for Spanish property investment.
Increasingly, more investors are buying property in Barcelona, attracting buyers from all over the world. Barcelona has an exceptional lifestyle on offer and is a favourite for many tourists with its incredible scenery and culture and lots of investment potential. New Development project sales will be driving the residential property market as Barcelona continues to develop the city and its surroundings. Prices in the city centre are expected to increase to double figures due to their development and gradual expansion. Housing projects are flourishing there this year, focusing a lot on Eixample, Diagonal Mar and Poble Nou. These areas are perfect for rental investments and are sure to entice non-European buyers who wish to take advantage of the Golden Visa residency scheme. This place is definitely an investment hotspot and will be for years to come, with capital gains growing in strength to strength.
Madrid is expected to attract many more international buyers this year, whether it is for permanent residence, investment or for lifestyle reasons. It remains an affordable European capital, easily accessible (both nationally and internationally), which count for two of the prime reasons why investors are motivated by this location. Madrid is thriving with nationalities from all over the globe making it a vibrant and multicultural place to be in. This year, Madrid can expect an increase in investors from Latin America, the US, Northern European countries, the Middle East and Asia. With Spain’s economy strengthening from year to year, national market transactions are increasing for investment purposes too. It can be expected that prices will continue to rise at a steady rate but they will still be far lower than they were during the boom in 2008.
It is predicted that Valencia will continue to rise in popularity this year, especially now that the uncertain political situation is out of the way. Mortgage credit has returned with lower interest rates, which has improved the circumstances for buyers on a larger scale. This overseas buying trend is only getting better. You can expect to see the Valencia skyline bursting with energy as new residential developments go underway this year and cranes will signify this. Patacona beach is a favourite among investors with the second Property Lounge soon opening there, making it their second one and a likely success. This destination is simply a ‘win-win’ for a Spanish property investment.
Whether it is Barcelona, Madrid or Valencia that you’re interested in, investing in Spanish property in either one of these cities can be said to be a ‘risk-free’ choice. The market continues to improve and people’s admiration for the Spanish culture and way of life is only getting better and better.
Written by Gemma Smith