According to the latest report of Knight Frank, Spain's economy by the end of 2016 will increase by 2.6%, more than in Germany and the UK.
Spanish property market is characterized by two trends – an increase in the number of buyers from outside the EU and the growth of prices on real estate objects. The inhabitants of the countries of South America quite often buy property in Madrid, Asians are most active in Marbella, the Swiss – on Ibiza. As for citizens of Latin America, they account for about 30% of all transactions of the company in the primary market of Madrid.
Prices for luxury properties on Ibiza during the year increased by 10%. Demand here exceeds supply. Over the last three years sales have increased by 37%.
In Mallorca for the first two months of 2016 the number of applications for new residential projects increased by 55%. By the end of 2015, the demand from foreigners rose by 21%. For the increase in activity says also the fact that by the end of 2015 the number of mortgage loans on the Balearic Islands increased by 20%
In Marbella the largest increase in prices is mostly onserved on the market of newly built modern villas along the Golden Mile, in Sierra Blanca, Cascada de Camojan, La Zagaleta and other privileged areas of Marbella.
Based on the materials of propertywire.com
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