The Spanish property market has seen a huge boost in sales in recent months, with a surge in both domestic and international buyers. This has been driven by a combination of factors, including a strong economy, favourable exchange rates, and an increase in demand from overseas buyers.
The Spanish Economy
The Spanish economy has been on an upward trajectory in recent years, with GDP growth of 2.6% in 2018 and a forecast of 2.3% for 2019. This has been driven by a combination of factors, including a strong tourism sector, increased foreign investment, and a rise in consumer spending. This has created a more stable economic environment, which has helped to boost consumer confidence and encourage more people to invest in real estate agent Javea.
Favourable Exchange Rates
The strength of the euro against other major currencies has also been a major factor in the recent surge in property sales. The euro has been trading at a high level against the US dollar, British pound, and other major currencies, making it an attractive option for overseas buyers. This has helped to attract more international buyers to the Spanish property market, as they can get more for their money when buying in euros.
Increased Demand from Overseas Buyers
The increase in demand from overseas buyers has been a major factor in the recent surge in property sales. This is due to a combination of factors, including the strength of the euro, the attractive lifestyle on offer in Spain, and the fact that it is a relatively safe place to invest. This has been particularly noticeable in the coastal areas, where there has been a significant increase in the number of foreign buyers.