27 May 2024, 00:06

Foreign property investors are operating in Spain ...


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the : 12/05/2014

Foreign investors in Spain


Foreign property investors are operating in Spain with Real Estate Company Somrie


The founding companies of the Spanish Personal Shopper Real Estate Association, Somrie, ACV and Habitatio have said that foreign customers represent 83% of their portfolios.


These companies say that from the first quarter of 2013 and the first quarter of 2014 there has been a large increase in the number of foreigners with enquiries.


Enric Jimenez of Somrie says that operations with overseas customers have doubled; ACV and Habitatio agree.


The type of customers are those with high buying power that want cash transactions and generally want a property in Barcelona, Madrid or coastal areas as an investment and possibly for a potential home base for the future.


Where do foreign investors comme from?


Foreign Investors are coming from North America, South America, Europe, Russia and Saudi Arabia.


Properties have been acquired from between 200,000 to weil over a 1,000,000 euros. For Somrie half of the purchases have been over 600,000 and 30% more than a million.


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