"explains Paloma Perez Bravo, CEO of Lucas Fox Residential. It's not just foreigners buying up holiday homes or investment properties either, as almost four in 10 of these luxury properties are bought as primary residences. "Spain has gone from being the land of sunshine to being the land of investment. People want more primary residences than second homes because they are moving to Spain," Perez Bravo says."
"The real estate company believes that one of the driving forces behind the number of foreigners now buying in Spain are the immigration policies of the Donald Trump administration in the US. "There's a pull effect on Spain from businesspeople and investors who used to invest in the US and are now facing increasing difficulties. The same is happening with students," they add."
International buyers are involved in 62 percent of luxury-property purchases in Spain. Foreign residents, digital nomads, entrepreneurs, Latin Americans, and buyers from the UK and US are increasing presence. Nearly 40 percent of luxury homes are purchased as primary residences rather than second homes. Changes in US immigration policy have redirected some investors and students toward Spain. Spain's luxury market is positioned as the most dynamic in Europe, with potential real-estate investment growth up to 20 percent by 2026. Properties above €2.5 million represent about 1.6 percent of transactions. Luxury homes concentrate in Málaga, Mallorca, Madrid and Barcelona.
Read at www.thelocal.es
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