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Good years ahead on the Spanish real estate market

On the back of rising foreign demand, the forecast shows some good years ahead for high-end Spanish property market, and the new development market in particular. Analysing data in 2016, Lucas Fox, a local broker, identifies three main trends:

  1. Foreign buyers are continuing to drive sales in upmarket segments
  2. New home transactions are rising strongly but a lack of stock is pushing up prices
  3. The Brexit vote and the election of Donald Trump are starting to affect British and American buying habits

New construction in the real estate market

The demand for second-home destinations is growing

In the luxury real estate market the British continue to make up the biggest proportion of foreign buyers all over Spain (11% but down from last year’s 18%), followed by buyers from the Middle East (8% compared to 5% in 2015), Scandinavia (7% compared to 4% in 2015), France (6% compared to 9% in 2015) and the US (5% compared to 4.5% in 2015). Asian and South American buyers are also on the increase. Spanish buyers accounted for 35% of Lucas Fox sales in 2016, up from 19% in 2015. National and international demand for homes in leading cities and desirable second-home destinations is growing, showing that Spain’s economic recovery is on course despite last year’s political paralysis.

Three-quarters of the new or renovated properties were bought by foreigners, 46% of whom were buying for investment reasons. The average selling price of a new home in Barcelona during 2016 was 6,200€/m2 (€720,000), significantly above the Barcelona average.

Luxury apartments constructed by Nobohome

Highest quality in combination with a very personal approach

Nobohome understands that your time is valuable. Their luxury apartments are sold turn-key, ready to enter, including the design furniture, household equipment, up to the art, glasses and cutlery.

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