03 July, 2011

By Martina Heynemann

From:           Martina Heynemann

To:                Team VIVA

Sent:             Friday, 01/07/2011, 15:20

Subject:        Foreign investment in Spanish property up by 28.7%

Hi guys!

Well, here’s some excellent news from Spain’s Diario Expansión website which reports that during the first three months of this year, foreign buyers invested no less than €1,130 million in Spanish property. That’s 28.7% more than in the same period of 2010.

What’s more, according to the latest data released by the Bank of Spain, it’s the first time since 2008 that the total has broken through the €1,000 million barrier, and in fact the Spanish real estate market hasn’t seen such a huge increase for almost a decade.

Of course we all know that the number of overseas property investors started to decline back in 2003, before going into free fall in 2008 and 2009,  so let’s all hope this reversal of trends continues!

But while foreign investment in Spain is showing such a marked increase, Spanish overseas investment is apparently still falling and quarterly figures haven’t risen above €600 million since 2007.

Apologies to those of our Blog readers who don’t speak Spanish, but if you’d like to know more, then please pop in and we’ll be only too happy to give you a full breakdown of the article.

Martina Heynemann

VIVA Managing Partner