Buyers also Return to Spain’s Luxury Housing Market

Saturday, 18 February 2017 | 1 minutes reading time

According to international property consultants wealthy investors are now returning to the luxury housing market in Spain, after several years accumulating savings and waiting for the national and global economies to recover and improve.

Moreover, the value of the transactions on these luxury homes is now higher and the completion period for these sales is getting shorter, falling from an average of between 10 and 12 months previously, to a period of between 3 to 6 months.

During the crisis, the luxury housing market in Spain accumulated an average decline in prices of around 31% since their peak levels, which is much less than that suffered by the conventional housing market, where prices fell by around 41%. However, the luxury sector began to show the first signs of recovery in 2015, with the Ministry of Public Works’ data revealing that prime residential transactions increased by 25% over the previous year.

Have a look at our luxury new build properties on the Costa Blanca South.

Source: Kyero.com

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