This year will be “particularly favourable” for investing in Spanish property, argues BNP Parisbas Real Estate, whilst PricewaterhouseCoopers say there are now plenty of opportunities.
BNP Parisbas Real Estate, part of the French bank, lists ten good reasons for investing in Spanish property today, in a new guide to investing in Spain, aimed at foreign investors.
The main reason they give is prices, which have fallen to their lowest level since the crash began, and now represent a “unique opportunity,” they argue. Prices have fallen faster than rents, driving up rental yields on prime property. Forecasting that prime property prices will recover within the next 5 years, they conclude this is the time to invest.
The other factors the mention include Spain’s structural reforms, infrastructure, strategic position as a gateway to Europe from Latin America and Africa, world-class corporations and a well-trained workforce.
Big-four auditing firm PricewaterhouseCoopers have also just released a report suggesting it might be a good time to start looking at Spanish real estate, reports the Spanish press.
Noting there are more investors around this year, “everything suggests that the property market has reached an inflexion point,” writes Juan Velayos, head of real estate, who sees “plenty of opportunity.”
Sales activity will be return to the market, he forecasts. “We will witness something we haven’t seen in recent years, which is large scale transactions.”