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The real estate sector, your best investment in 2017 with Engel & Völkers

This year, 2017, began with the political uncertainty in some of the world's biggest economies. Any doubts about the health of the economy were gradually dissipated in the first half of the year, while a specific industry in Spain's economy consolidated its upward trend and saw significant growth.

The real estate market already surprised us in the first quarter by exceeding growth in the national economy. There is no doubt that real estate investment has been the winner of this year, 2017.

Residential investment, for example, climbed to 450 million euros between January and March, with a 3% lead that is expected to be achieved in the global calculations this year. At the same time, the total sales data show an even more exciting picture, with a 7% increase in the first quarter of the year. Unlike other quarters, in this case the number of sales completions showed an increase in all the independent communities. The most touristy areas, such as Costa del Sol, Barcelona, and Madrid, recorded the most outstanding figures in terms of real estate investments.

Spain - Barcelona Meeting Point 2015

Another pillar of the growth in the real estate sector is the rental market. After the great recession, rental prices rose in line with the real estate market's growth. In fact, the residential rental price has grown in recent quarters to the highest pace it has seen since the last decade. The average increase in Spain stands at 9.5% in quarterly terms and at 5.9% compared to the previous year, 2016.

To conclude this brief compilation of growth in the Spanish real estate market in the course of 2017, we must also mention 'Brexit'. The forthcoming departure of United Kingdom from the European Union (expected by 2019) triggered alarms on the possible decrease in British investors' demand (accounting for 29% of foreign capital invested in Spain). At the moment, there have still been no significant changes despite the vast media coverage about the possible consequences of Brexit. 

Either way, at Engel & Völkers, we want to help our franchisees take advantage of this opportunity and get the maximum profits from their businesses.

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