As previously announced at the beginning of May, Engel & Völkers has participated in the last edition of SIMA, the International Real Estate Exhibition in Madrid. After closing until next year on May 28th, the organisation of the event highlighted the notable increase of 9% in terms of the number of visitors. Very positive figures that show both the prestige of the Madrid forum and the increasingly clear recovery of the Spanish real estate market. Engel & Völkers has also found this out for itself.
One of the trends corroborated is that both private and professional investments are entering with increasing strength in our country, with a strong role played by foreign buyers. The experts present at SIMA, who participated in different round tables open to the public, showed their confidence that, if in 2016 we were witnessing new build projects, 2017 is a good year for the renovations. This is not surprising in the least because the expectations of being able to sell a property in advantageous terms are leading many buyers to make these investments.
Engel & Völkers is participating at this event, which has been strengthened by the numerous consultations received by our representatives in the Madrid area. On Stand 10E42, E & V CEO Juan Galo Macià and the head of our MMC in Madrid, Paloma Pérez Bravo, were some of the faces of our Spanish organisation that were available to interested users. Precisely, Pérez Bravo was able to confirm with pride that in the first few months of the year there had been a 20% advance in the granting of permits for new builds and renovation of buildings for residential purposes, reaching the impressive figure of 12,500 licenses between January and February.
As usual, the big cities, with a special focus on Madrid and Barcelona, are the main drivers of these trends that are so exciting for the sector. Of course, the main Spanish coastal areas also show significant growth. The director of the Expansion and Support department of Engel & Völkers Spain, Constanza Maya, has emphasised this last aspect, as did our managers in the subsidiaries of San Sebastián, Santander, Vigo and Fuenterrabía.
As a final consideration, the Engel & Völkers Spanish team made a considerable number of contacts with international investors. The United States, Germany and the United Kingdom are the main countries of origin for investors looking for strategic assets in the Spanish market. Also worth mentioning are investors from Latin America who have also been interested in the possibilities of buying and renovating properties in Spain. From Engel & Völkers we can only thank these customers for their interest and promise that we will return to SIMA in the next edition.