Barcelona is back. At least those are the findings of Lucas Fox Properties International, which saw the number of Barcelona properties purchased for investment purposes jump from 30% in first half of 2014 to 60% in the first half of 2015. Lucas Fox founding partner Alexander Vaughn spoke to Overseas Property Professional about the results and why Barcelona has grown more attractive for investment.
“The recent correction in property prices in Barcelona and the rest of Spain has once again ignited interest in properties for investment purposes” says Alexander Vaughan. “The price adjustment combined with a growing economy and more favourable mortgage conditions all point to it being an opportunistic moment to invest in Spanish property, especially in prime locations. With a yield on rental properties of up to 5-6%, investing in Spanish property in some cases could be viewed as a safer bet than the stock market.”
And Barcelona isn’t the only Spanish city seeing strong investment appeal. Lucas Fox Madrid found that through the first six months of this year, 60% of clients who purchased homes valued at €900,000 (about US$1.02 million) or above did so for investment purposes. [Overseas Property Professional]View full listing (pictured top)