26 February, 2018
Property Market in Spain 2018| Casamona International
The Catalan referendum took its toll so many investors ask the same question. Would it be sensible to invest in Barcelona’s property market in 2018? Casamona has done some research in Barcelona’s property market in 2018 after the referendum.
Property market in Spain in 2018
According to Lecuidy Law Boutique, agents commission has increased from 5% to 7% of the purchase price which indicates that the market is low and they are thriving to get more sales. According to ICEX-invest in spain, they say that Spain is the 2nd country worldwide in international tourist arrivals and in receipts (1st in Europe). More than 82 million international tourists in 2017.
Blog housers say that foreign buyers spent 2.217 million in direct property. They have also agreed with ICEX point in saying that Spain is the 2nd country in Europe with most international participation. This could indicate that Spains property market has a number of foreign investors.
In the first two quarters of this year, foreign buyers spent 2.217 million of Euros in direct property, which makes Spain the 2nd country in Europe with the most international participation in the real estate market
The sales recorded in the Land Registry from the last quarter from September to October 2017 indicate that foreign demand has dropped due to the political crisis which was the Catalan referendum. This drop in demand happened because investors were afraid if Catalonia would declare independence and leave Spain.
There has been a dip in the market last year but now the market is going back up and foreign markets are becoming more confident to invest in real estate in Barcelona in 2018. The Catalan crisis only left a small dent in the market but now it is back on track again. Fortunately the sales are once again rising as shown above.
What will the future be like?
That is the big question everybody in this area of work will ask themselves. Is it a good idea to invest in the property market in Spain 2018? The answer is all down to politics. With the problem arising regarding independence, people are kept on their toes. With the Spanish government in charge things will not spiral out of control. Therefore everything is calm as of now. The property market has been growing since September, here in Barcelona.
For more details on Barcelona’s property market in 2018 visit https://www.spanishpropertyinsight.com/2018/01/17/survey-spain-quarterly-spanish-property-market-report-q4-2017/
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