As the international property world prepares itself for a new year in 2013, Spain is wanting interest from new international markets and renewed keenness from normal buyer locations is likely to make for a positive year, pushing on from a good end to 2012.
Agents, developers and property consultants feel interest in each of the top and lower ends of the sector is up, with cash buyers in an specifically strong place, while international buyers and those from outside the EU may find proposed new legislation to grant residency to everyone investing in a property for more than €160,000 especially appealing.
Chris Mercer, director of Murcia based Mercers, told PropertyWire that foreign clients have tended to control the market in 2012, mainly Belgian, French, Norwegian, Swedish, and a welcome revival of more British buyers during the last 3 months. Mercer is additionally seeing some more interest from the Germans and Dutch.
Marbella centered Spanish Hot Properties is also estimated property sales to increase in 2013. Director Nick Stuart said that sales and turnover were up about 25% on 2011 and he predicts a boost of 50% in turnover for 2013 over 2012.
He’s expecting a large rise in sales to Norwegians and Swiss because of their currency being outside the Eurozone, an additional reason that buyers from Asia and Russia will be intrigued by Spanish property. The Belgians, Dutch, Russians and Scandinavians at present regard Spanish properties as being good value for money.
In his own region, Stuart said British buyers should likewise start to see the pure value in property prices. “Genuinely many properties are half price, and I don’t think the Brits quite realize that. They would always rule the market, making 60 to 70% of foreign purchases, but were responsible for just 19% in 2011. At the same time purchases by Russians leaped almost 28% from 2010 to 2011 and Chinese purchases by 7%. Let’s hope the British buying public awakens and comes back to Marbella,’ he added.