What does Spain have that attracts so many foreign investors?
Investment in brick in our country by foreign investors is one of the key elements for the growth of our economy.
Foreigners are looking for housing in Spain to rent, buy and then sell or to have a second residence. There are many reasons to buy in Spain.
But, what is it about Spain that attracts so much? What places are your favorites? How has Covid-19 been able to affect investments? Is it a good time to buy? We analyze all the questions posed.
Why is Spain such an attractive country?
One of the main attractions that Spain has for foreign investors is the price of housing, since the price of housing in the rest of Europe is much higher, for example in London, Paris or Munich where it is situated at 16,420, 9,869 and 7,999 euros per square meter. Without a doubt, a big difference compared to Spain.
Another of the fundamental reasons is the high quality of life that our country has, heart-stopping coasts, a good temperature almost all year round, more hours of light than other European countries, good infrastructures and security.
Where do they invest the most?
If something does not seem to change despite all the circumstances experienced in the last year, it is the place of preference for foreign investments.
Of course, on coastal sites like:
How has the pandemic affected foreign investment?
Forecasts for 2020 in terms of foreign investment predicted a promising year. However, the coronavirus crisis truncated the plans of the real estate sector. The sanitary measures, the limitation of international travel and the uncertainty and instability of the moment had a great impact on the behavior of foreigners in the Spanish real estate market.
Despite everything that happened and the drop in purchases by foreigners, interest in Spain remained intact and, therefore, since the second semester an increase in foreign investment flows was detected: operations carried out by foreigners represented 11.4% of total operations.
Is it a good time to buy?
Now is the best time to buy. Different market positions come together that fluctuate over the years – prices, mortgages and the savings of families and individuals. All three coincide at this very moment.
“It is a good time to negotiate, because we come from a complex moment because of everything that has happened with the pandemic, that means that we can negotiate a little better. We are in the best mortgage percentages in the history of this country.
Therefore, we are getting most of the fixed interests at 25 and 30 years that we did not get before. And, furthermore, as unfortunately this last year families have not been able to spend, they have not been able to go out, they have ended up saving.