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Engel & Völkers Licence Partner Spain > Blog > Brits looking for bricks and mortar in the Levante coast

Brits looking for bricks and mortar in the Levante coast

With the confirmation of brexit in the UK, it appeared that the large colony of British citizens residing in Spain would pack up and return home. But nothing could be further from the truth as contrary to expectations, more and more Brits have started to buy homes in Spain.

It is mainly the UK-based investors who see Spain as an excellent place to invest in real estate. In fact, during the last few months, these investors have been buying complete urban developments, shopping malls, and even hotels in the Levantine area. In fact, the real estate opportunity is a reality and according to sources of investors themselves, they are making more than 30% profits. With the current situation of world economy, this amount of profit that our country is offering investors is undoubtedly pure gold. In addition, this progress is also confirmed by internal sources such as Engel & Völkers.
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This is not an issue that we can easily dismiss as the real estate profitability is being achieved more so in the Valencian Community. The numbers far exceed those in Spain's most important cities like Madrid or Barcelona. Two examples that perfectly illustrate this positive progress are the purchases of El Manar shopping centre and the Puerto Mediterráneo shopping centre in Valencia by two investors for 38 and 500 million euros respectively. As you can see, these figures prove that there are many business opportunities offered in the Levante region.

On the other hand, it is also possible to highlight the business deals carried out by Atitlán Capital and Roig family who purchased the old lands where the Formula 1 racing was located in Valencia. A total of 300,000 sqm that within a few years will become one of the most important urban development projects in the Valencian capital.

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The business opportunities are clearly evident and Engel & Völkers is in a position to provide all the necessary advice to potential investors so that the profit expectations turn into reality. The homes in the south of Alicante, the hotels in La Marina and the residential buildings between Valencia and Moncada are today one of the sectors in which to invest and to make a great amount of money. The British buyers have realised this and are taking advantage of the opportunity by investing in the real estate market. This industry has been one of the hardest hit by the crisis but it is resuscitating quickly and coming back to life thanks to the enormous demand by foreigners.

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Property on offer in Spain

In recent years, the Spanish property market has become a sector particularly valued by international investors, and it's no surprise. Between 2009 and 2014, property prices in Spain underwent notable changes, and as a result properties are currently being sold at very competitive prices. This situation applies to houses both for sale and to let, as well as to more luxurious properties, making Spain a practically unique case in Europe. The best investment possibilities can be found in Spain's high-end properties.

The high-end sector is the most interesting to the international investor. Many people the world over consider property in Spain, especially in the larger cities, to be some of the best patrimonial assets in Europe (a good example would be a luxury attic in Madrid or Barcelona). And as for the exclusively residential market, those who wish to have a second home in Spain, or buy a main house can also benefit from this situation. Logically, all of these benefits also reach the proprietors who wish to sell their houses.

Living and working in Spain

The quality of life enjoyed in Spain is the result of a unique combination of climatic, geographic, and of course, human factors. Living in Spain is an option that is contemplated by more foreigners every day, and buying a house is the first step towards that. Acclimatisation tends to be fast, and those who move in with the objective of developing business ventures can also count on easier administration when buying a house. Spain's high quality property market paves the way forward.

The type of property which one moves into in Spain will obviously depend on the newcomer's aspirations. Those who head to Spain, whether to live or to work, can enjoy the wonderful surroundings, either in an apartment with a view (of the beach, mountains or the city) or in a house right on the coast. For more information, it can be very useful to seek the advice of an estate agent in Spain, who will analyse the most interesting offers based on the prospective buyer's criteria.

Selling your house in Spain

Selling your house is another option for foreigners who live in Spain. Whether you are coming to the end of your stay in Spain or you just want to get rid of one asset in particular, the services of a reliable and trustworthy Spanish estate agent are essential. These professionals will examine the qualities of the villas in Spain that they want to commercialise, reaching the most advantageous sales agreements possible and getting the luxury properties in question on the market. Little wonder: if anything indicates the current context of the market it's that the role of the agent is basically to close a good sales agreement.

How to arrive in and travel through Spain

Alongside the properties that Spain has available, the country also offers areas of great patrimonial and natural interest. It's worth highlighting the excellent connections by land, sea and air to all the European capitals such as London, Paris, Berlin, Rome, Brussels, and Geneva, and many other European cities are less than a three-hour journey from the main Spanish airports. Those who travel to Spain have airports at their disposal not only in the main cities but also in the majority of the provinces. Another alternative to get around the country is via the complete train network that, on a smaller scale, consists of commuter trains to the inland regions, creating easy access to almost any town and property in Spain.