Foreign investors gain interest in Spanish real estate
The crisis is still embedded in the Spanish market, but the international investment marlet seems to recapture its tone and is gaining interest on the Spain real estate sector. This results from a survey of over 340 European real estate investors performed by CB Richard Ellis. The survey concludes that the Spanish property market interest from European investors has increased over the last year, reaching the fifth place ranking with a 9% improvement.
Despite economic dificulties, investors have returned to real estate oportunities. 2010 ended with an investment volume of 3.329 million EUR. The trend for 2011 is focused on a slight rebound . Still, Germany and Central and Eastern Europe are considered the most attractive markets for real estate.
Adolfo Ramirez-Escudero, managing director of CBRE Capital Markets Spain, explains that “the reason we have not seen figures even higher investment is simply the lack of product that meets the demand.”
The first quarter may be the scene of several operations. On the one hand, the story will continue to fall, in addition, many companies are pursuing strategies of asset turnover, which could be interesting enough to foreign investment funds that have set their sights on Spain.