Where’s the hottest places to invest in Spain right now?
We think 2016 is going to be a very interesting year for the Spanish property market. The recovery is now well underway and gaining momentum, unemployment continues to fall and the economy is set to be the fastest growing of the “Big Four” euro economies over the next two years, according to the International Monetary Fund.
And, if you needed further convincing that 2016 is the year to invest in Spanish property, the OECD’s latest report on homes in Spain are currently undervalued by 26% makes for interesting reading: www.telegraph.co.uk
The average price for property sales at Lucas Fox during 2015 was around the 1 million Euro mark, and we expect that figure to be more or less the same during 2016. We thought it would be a useful exercise to ask our regional directors where they would spend the money. So if you are thinking of investing in a Spanish home in the next 12 months, take heed..
“The so-called ‘Golden Square’ of Barcelona is a guaranteed location for property investment as it is highly sought after and located in the heart of the city centre.
Within this area, the prestigious main streets including Paseo de Gracia, Calle Balmes and Rambla Cataluña will never go out of fashion and currently still offer attractive prices, but they are beginning to gently increase since late 2014. We have some great New Development projects coming onto the market in and around these areas. I would purchase a couple of our apartments for sale on Calle Balmes 141 if I could. Ready-to-move-into and instant rental yield (5%)”
– Karen Storms, Sales Manager Lucas Fox Barcelona
“I would invest 1 million Euros in a sea view property somewhere between Begur and Calella de Palafrugell. From an investment point of view, it is hard to go wrong. Prices have dropped by 30% – 40% over the past 8 years yet this beautiful stretch of coastline will always be in demand from wealthy local and international clients.
Furthermore there is very little new construction so supply will never outstrip demand. There are plenty of re-sale properties on the market in prime locations with great sea views. Many require renovation so it’s worth keeping some budget aside to upgrade the property, personalise and add value”
– Tom Maidment, Partner Lucas Fox Costa Brava
“In today’s buyers market, if I had 1 million Euros to invest, I would focus on the one of the best locations of the Maresme Coast – Can Teixidó in Alella. This location is simply ideal, being conveniently located 15 miutes north of Barcelona city centre, a 5 minute drive to the new Hamelin-Laie International School and a short walk from El Masnou Marina. The area offers fantastic Catalan and Spanish restaurants as well as pristine beaches, making this the perfect location to enjoy a “suburban” Mediterranean lifestyle!”
– Rafael Rosendo, Director Lucas Fox Maresme
“If I had 1 million Euros to spend in the Sitges area I think the best investment would be to buy a good plot of land somewhere close to town, with incredible sea views such as Vallpineda, Levantina, Montgavina or Can Girona.
Then I would build a beautiful contemporary home designed and styled to my own personal taste. Not only would you end up with the home of your dreams but it would also be a great investment as it would cost you almost half of what a similar finished build would cost!”
– Rachel Haslam, Director Lucas Fox Sitges
“With 1 million Euros, I would purchase a renovated apartment within a Modernista building, located in the heart of the Pla del Remei, the most exclusive area in Valencia’s Eixample district and just steps from an iconic example of Valencian modernism, Colón Market.
It is one of the most sought after locations among foreign investors, whom quadrupled in number from 2011 to April 2014, elevating Valencia to 4th place nationally for foreign buyers. El Pla del Remei in particular, is ideal for those looking for a safe, good value long-term investment, and the exclusivity and tranquility that comes with living in the fashionable Eixample”
– Juan Luis Herrero, Director Lucas Fox Valencia
“If I had 1 million Euros to invest in 2016, I would invest in an apartment somewhere along the ‘Golden Mile’ in Marina Botafoch, on the edge of Ibiza Town.
This strip is now THE summer destination and is heavily in demand with those who wish to rub shoulders with the world’s movers and shakers in renowned lavish establishments such as Lío, Heart, Cavalli, Cipriani, It and Pacha. Space is limited here and like Ibiza generally, prices are only going one way. Up!”
– Jason Ham, Head of Business Development
“With 1 million Euros, I would invest in a gem of an apartment to renovate in a classical building in Justicia, around Argensola and Plaza de Salesas. For this sum, you could buy a spacious property with plenty of character (200 – 225m2), situated in one of the most fashionable locations in the capital, next to boutiques and trendy restaurants, offering a superb lifestyle and future profit!”
– Rod Jamieson, Director Lucas Fox Madrid
“If I had to choose a location in which to invest 1 million Euros, it would have to be Estepona Town along the beachfront – probably the fastest up-and-coming area on the Costa del Sol. It has been labeled ‘the most attractive town’ on the Costa del Sol thanks to the likes of its narrow cobblestone streets and typical white houses covered in colourful flowers. There are some 30 golf courses in the direct vicinity, a charming marina with a yacht club, restaurants, as well as a local fishing port. Malaga Airport, Marbella, Tarifa and Seville, Gibraltar (Airport) and even Africa can easily be reached from there”
– Stephen Lahiri, Director Lucas Fox Marbella
Carrie Frais is Head of Marketing & PR at Lucas Fox