Investors from the Middle East support the market of elite properties in Spain
Investors from the Middle East support the market of elite properties in Spain
04.10.2016 | 11:51
Prognosis | Survey | Prices | Investments
Investors from the Middle East are among the most active buyers of elite property in Spain says Internet-Edition TheMoveChannel.com.
The property market in Spain has always been popular among foreign buyers, but the Brits - the biggest group of foreigners investing in real estate, are now leaders in the lower price segment in the market for vacation homes in this country.
After the referendum on Brexit and the fall of the pound, British interest to more expensive property in Spain fell sharply at the expense of the most low-cost housing. So, in the high segment of the resort property market in Spanish are already dominated citizens of non-European Union countries, mostly from the Middle East.
"The profile of homebuyers in Spain is changing", - comment from the consultancy company Knight Frank. Latinos are still active on the market in Madrid and Swiss nationals are interested mainly in properties in Ibiza and on the Balearic Islands.
Buyers from the Middle East have so far focused on the property market in Marbella. Requests of investors from the Middle East in the segment of luxury property in the region grew more than 2.5 times only for a year, reported the agency.
Province of Catalonia is also popular among investors in luxury properties. It is the most preferred place for buyers from the United Arab Emirates.
The growing interest of buyers of luxury properties in Spain among the inhabitants of the Middle East can be attributed to the program "Golden visa" - permission to remain in the country per investment size of not less than 500 thousand euro.
The property market in Spain has always been popular among foreign buyers, but the Brits - the biggest group of foreigners investing in real estate, are now leaders in the lower price segment in the market for vacation homes in this country.
After the referendum on Brexit and the fall of the pound, British interest to more expensive property in Spain fell sharply at the expense of the most low-cost housing. So, in the high segment of the resort property market in Spanish are already dominated citizens of non-European Union countries, mostly from the Middle East.
"The profile of homebuyers in Spain is changing", - comment from the consultancy company Knight Frank. Latinos are still active on the market in Madrid and Swiss nationals are interested mainly in properties in Ibiza and on the Balearic Islands.
Buyers from the Middle East have so far focused on the property market in Marbella. Requests of investors from the Middle East in the segment of luxury property in the region grew more than 2.5 times only for a year, reported the agency.
Province of Catalonia is also popular among investors in luxury properties. It is the most preferred place for buyers from the United Arab Emirates.
The growing interest of buyers of luxury properties in Spain among the inhabitants of the Middle East can be attributed to the program "Golden visa" - permission to remain in the country per investment size of not less than 500 thousand euro.
Download Free DOMAZA app
