The Spanish real estate sector is still in the doldrums, but investor expectations are improving, according to the latest survey by international consultants CB Richard Ellis.
73pc of real estate investors in Spain expect the sector to turn the corner in the next year and a half, reveals the latest property investment barometer from CB Richard Ellis.
57pc of those surveyed said they planed to invest in Spanish property in the next 6 months.
That said, most of the interest is in commercial rather than residential property. Only 7pc plan to invest in residential property, compared to 50pc in offices and 40pc in prime shopping centres.
80pc say that financing will continue to be a big problem for investors, which is why 60pc think that foreign investors with better financing will drive the market as it turns around.
Outside of Spain, London and Paris still dominate, with 50pc of the total investment.
Mark says:
Yes, it is true there are plans to build a Paramount Theme Park in Condado del Alhama in Murcia. But in my opinion it will never happen.