Spain newly discovered by big real estate investors
Also in Spain, the global financial crisis has not gone without a trace, where it has caused, especially in the real estate market for many years for a deep level of prices. Evidence that this phase is now finally over, not just the high prices again on the Spanish islands for holiday apartments and houses, but also the renewed interest in large-scale investors for the Spanish coastal regions like the Costa Blanca.
For here, the real estate prices reach pre-Lehman levels, although investors currently still can make a bargain. Big players like Apollo, Cerberus and Fortress have long since secured objects on the Iberian Peninsula. Even the Parade investor and multi-billionaire George Soros has invested with his firm Soros Fund Management € 92 million in Spain.
But not only for large real estate projects has returned fresh air. Also holiday homes, villas and holiday apartments are enjoying a new popularity. Not only in Spanish, but also in many Scandinavians, Germans, Swiss or British. Alone in the first quarter of this year, about 15,400 such items were re-sold to non-Spaniards, representing an increase of 27.2%. A growth of 9.8% in this segment already in 2013 was recorded for the year.
For investors, especially the holiday regions in the coastal areas of Spain are interesting. On the one hand, because many of their properties even want to use and enjoy the proximity to the sea, on the other hand also because many investors from Germany and other countries want to rent the property for at least part of the year and thus want to generate revenue from it.