There is a strong interest in Spain for the quality of life offered by the country, a situation that has not changed despite the global crisis. In this sense, foreign investment in real estate “will gain momentum as borders are opened.” Spain it is currently experiencing strong pressure at the borders. Investors in second homes are not acting without seeing and being able to value the properties, resulting in the current decrease on purchases – and advantageous deals for early investors.
As soon as these restrictions are lifted, this sector will live a strong revival. Funds and institutional investors follow other rules: since the process is more about analyzing Excels than touching and seeing the bricks these deals move forward even with closed borders.
The purchase of Spanish homes by foreigners was 65,400 in 2018 and fell to 63,000 in 2019. We expect to see this trend continue for 2020. While the recovery of the sector is anticipated in 2021 with the opening of borders, an early uptick in the acquisition of Spanish homes is expected thanks to the interest of investors, who now make decisions especially thinking about the quality of life that the country can offer them and ready to take advantage of the current pricing on the market.
SPAIN, AN ATTRACTION FOR TELEWORKING
Due to the restrictions implemented by many companies with regards to the opening of their offices the opportunity to telework in a place with a warm climate and moderate prices has been driving increased interest of northern Europeans in the acquisition of homes in Spain.
The post-coronavirus landscape will also be influenced by some global trends in real estate, such as the need for quality housing and ecological, sustainable, and healthy construction, which have been booming in Spain before the pandemic.
Foreign investment in Spain is expected to return strongly and Avalanding is poised to assist navigating the process with you. AvaLanding has worked with scores of investment and business clients from over 70 different countries. AvaLanding customers have invested more than 200 million euros in Spain and over 300 of them have obtained a “Golden Visa” with our support.