The widely reported trials and tribulations of the Spanish economy, which is predicted to continue shrinking in 2013, have painted a rather bleak picture of late. However, it seems that certain sectors such as the second homes market are going against the grain with opportunities abounding for foreign investors looking to pick up bargains.
The Real Estate Agency, the Spanish division of Fastighetsbyrån, Sweden’s leading real estate firm, has reported sales volumes soared by an astonishing 90% during 2012. With the Swedish economy continuing to grow, the company has seen increasing numbers of Swedes – as well as investors from the UK and elsewhere in Europe – attracted to properties in Spain.
The delights of the scenery, sunshine and laidback lifestyle of the Costa Blanca and Costa del Sol are proving particularly popular, with both the new-build and resale property markets showing strong sales. Daniel Nilsson, Regional Manager of The Real Estate Agency, comments:
“The last 12 months have been very positive for us having received over 5,200 enquiries for Spanish property and conducting some 1,600 viewings. From this we have seen the volume of deals and revenue rise by 90% and 104% respectively in 2012 compared with the previous year. Those are not the sales figures of a dead market!
“Buyers are looking for second homes and investment properties in locations offering great weather, fantastic food and a friendly and welcoming culture such as the Costa Blanca which accounted for nearly two thirds of our sales in 2012.”
Other real estate agencies are reporting the same story and it appears that the boom in Spain’s second homes market is set to continue into 2013. Nilsson continues:
“The glut of properties available in Spain presents not a problem but an opportunity for overseas buyers, there is something to suit everyone at every budget! Whether buyers are looking for newly built developments or more traditional Spanish resale properties (which 80% of buyers purchased in 2012), choice and bargains abound. In the last quarter of 2012 alone The Real Estate Agency saw a 22% increase in viewings of properties on the coast of southern Spain, compared with the previous quarter.
“The market continues to expand, as more and more investors are attracted by cost-effective purchases in idyllic locations. Buyers no longer feel constrained to purchase only in their own country, instead they have the confidence to invest in their dream home overseas through trusted real estate companies with proven track records.”
The Real Estate Agency is just that. The company’s Swedish heritage brings with it over 45 years of experience of the property market. It has been operating in Spain since 2008 and has a network of offices along the Mediterranean coast, with new branches due to open in Palma de Mallorca and Barcelona as a result of the success of 2012. From January 2013, The Real Estate Agency will also be offering its services outside of Spain, initially in Cannes on the French Riviera.
This blend of established experience and enthusiasm for the blooming Spanish market has led to an extremely successful year for the company, and with investors still hungry for what Spain has to offer, 2013 is tipped to be even more exciting.
For more information please call +34 617 343 846 or visit www.therealestateagency.com.