British, French and Russians come back buying again properties in Spain
Foreign buyers have come back in mass to the Spanish real estate market and the residential segment has been one of the first to rebound.
International investors showed again their confidence on the properties in 2011 (6,04%) and 2012 (8,12%), even if the real return of investment was generated last year (11,25%) and it has continued up to 2014, according to the information given by the Land Registry Association.
The managing director in Cushman&Wakefield for Spain, Oriol Barrachina, states that investors of the residential segment take the decision to buy before those who belong to the third sector. He explains that in the residential segment for offices and commercial surfaces, the investor waits prices to bottom and, moreover, the country risk to disappear and macro and microeconomic indicators to foresee the rents recovery, to ensure the performance. For the residential buyer, instead, he only usually needs to know that the purchase price has bottomed and that’s it, he says.
British, French and Russians were the foreigners who bought more properties last year in Spain. United Kingdom leaded 15% of the investments, followed by France (9,8%), Russia (8,6%), Belgium (7,3%), Germany (7%), Sweden (5,6%), Norway (5,2%), Italy (3,7%), Algeria (3,2%). In the tenth position of this ranking is China with almost 3,1% of the investments.
In total numbers, foreign investors still represent 11,25% of the whole sale properties in the Spanish market. 53% of the bought properties were new, and the rest second-hand housing.