The appetite of international investors looking for properties in Madrid and Barcelona drives the development of new real estate projects

88.858 purchase and sale operations were signed last year

The British and Russians are in the top positions in the ranking of acquisitions in Spain, followed by the Germans and French.

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During last year, the foreign population signed a total of 88.858 house purchase and sale transactions in Spain, 45% more than those registered in the previous year. According to data provided by the Property Registrars, we can deduce that the trend continues in a positive state, since the 23.300 transactions between January and March 2023 by this sector, with a percentage of 14,52% of total purchases.

 

According to these reports, this trend has led to an increase in demand for properties, but even more so from foreign investors, who seek to take advantage of the opportunities and benefits offered by these prosperous Spanish cities.

 

The tax incentives and residency programs offered by the Spanish government have been a key factor in the growing interest of foreign investors in Madrid and Barcelona.

 

In this way, the experts of casavo, the real estate platform that connects home sellers and buyers, they point out Madrid and Barcelona as key markets in Spain for the acquisition of property by foreign buyers, along with coastal areas.

 

The attraction of Madrid and Barcelona

 

The British and Russians are in the top positions in the ranking of acquisitions in Spain, followed by the Germans and French. Although Spain has positioned itself in the minds of foreigners as a country whose attractiveness focuses above all on the richness of its coasts and natural charms, the percentage of them who decide to focus their projects on the two main metropolises of Spain grows every year. once again.

Madrid and Barcelona, ​​a unique combination of tradition and modernity, as well as a wide range of commercial and investment opportunities. Furthermore, the constant increase in tourism and job opportunities continue to drive this demand in both the rental and home purchasing markets. This only creates a favorable context for these investors, buyers and sellers who position the Spanish territory as a positive situation.

A heterogeneous market

The acquisition of properties by these investors, also in tourist areas for vacation rentals, has boosted demand and prices in those areas. The real estate market in Spain can be heterogeneous, with significant variations in prices and demand depending on location and type of property. The annual variation of the Housing Price Index (IPV) in the fourth quarter of 2022 decreased by 2,1 points and stood at 5,5%. Currently, the average house price has registered a quarterly decrease of -1,5%, thus placing the average price at €1.921/m². We can deduce from these data that the real estate situation remains favorable in order to continue receiving foreign investments due to these reductions in the value of homes, thus facilitating interest in acquiring them.

Thus, Spain is one of the most complex markets in the European market. Therefore, evaluating opportunities, measuring needs and having personalized advice is essential. Casavo tries to simplify these processes through the use of technology and artificial intelligence to connect those who want to sell their home with buyers looking for a home with the same characteristics thanks to its own platform, which offers a simple, digital experience.