Madrid and Valencia Described as 'Investment Hotspots'

By Fernand Gagnier, for ExpatBriefing.com 13 January, 2015

Lucas Fox, a high-end real estate agency, has identified Madrid and Valencia as "key property investment zones," with prices recovering after falls of up to 40 percent since 2007.

According to official figures, property transactions in Madrid were up 17 percent in 2014 over 2013 levels, and up as much as 30 percent in Valencia.

Rod Jamieson, Director of Lucas Fox Madrid, said that the capital had been in decline due to the financial meltdown and the end of the property bubble, but said the city is now "back on the map" as a place to invest. He explained that there had been "several key structural reforms and an important price correction in the property market," and that 2014 had seen "a large increase in foreign investment from many different parts of the world."

BBVA, an international bank based in Spain, has forecasted that Madrid's economy will grow by 2.8 percent in 2015, compared with a national average of 2.3 percent.

Lucas Fox also says that Valencia's position has been aided by a Government cash injection of nearly EUR4m (USD4.7m), along with the successful hosting of the Americas Cup in 2007 and the transformation of the City of Arts & Sciences. Juan Luis Herrero, from Lucas Fox's Valencia office, described the city as the "California of Europe," due to "long stretches of coastline, balmy temperatures all year round, renowned gastronomy, rich cultural heritage, and beautiful architecture." He also noted its proximity to Madrid, Ibiza, and Barcelona.

Alexander Vaughan, a founding Partner, said that both cities offer "value for money, an excellent quality of life, and a safe long-term investment." He added that the company is confident that the locations "will be attractive investment hotspots" during and beyond 2015, "appealing mainly to northern European, Chinese, and Middle Eastern buyers."

Tags: Investment | Spain | Expats | Investment | Property Investment | Invest | Investment |

 





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