Onwards and Upwards
The New Year and the property markets is starting on a positive note.
Spanish construction is in abundance, in both the residential and commercial sectors. The real estate in the capital, Madrid, is on fire, where foreign investment has increased dramatically since the initial signs of recovery in 2013
The Spanish GDP is predicted to grow by over 3 percent this year, a main source being the commercial real estate boom. An example of this is a 2 billion euro investment planned by Cordish (an American conglomerate) who are planning to build a ginormous leisure centre in Madrid, hoping to create over 50´000 jobs and bring to it millions of visitors. The Cordish Company is a company who primarily develops and operates commercial real estate developments, entertainment districts, gaming, hotels, international development, private equity, residential, restaurants and sports-anchored districts.
What is great is that the commercial boom is going hand-in-hand with new and exciting residential developments, that are not only happening in the capital but are evident right here along the Spanish coastline. It is shown, following survey after survey that more and more foreign nationals than ever before are considering buying second homes in Spain.
So the good news is that, with the construction sector in full swing with new commercial projects, the finances and drive is there to invest in the residential market too. This in turn will fulfill the ever increasing foreign demand for a dream Spanish home.
If you are looking to follow that dream, give us a call, let us help you make it a reality!