Despite the poor economic outlook, there are investors who continue to think of Spain as a place with real estate opportunities. "There are doubts about whether Spain is a safe place to invest., but we see a significant flow of investments from South America", explains Grainne Gilmore, expert in the residential sector of Knight Frank.
Historical ties, language and trade relations between the two regions facilitate this trend. According to data from the website of the real estate consultancy, the largest number of searches for luxury homes in Spain come from Brazil, Venezuela, Colombia and Mexico. In Madrid, buyers from Colombia, Mexico and Venezuela are the most active at the international level.
South America is one of the regions that is experiencing the most growth in the segment of large fortunes, according to The Wealth Report, an annual report that includes the trends when investing of large fortunes. In 2012, there were in the region 145 people considered billionaires, a number that will be doubled in 2020. If the study is reduced to "only" those who have more than 30 million dollars in assets, the number in South America skyrockets to 15.230 People.
Housing
Christian de Meillac, by Knight Frank, explains that Latino investors are looking for homes in Marbella, Ibiza, the Costa del Sol, Barcelona and, above all, Madrid. "It is good news because it shows that doubts about the future of Spain are clearing and that prices are appropriate". The type of housing that these great fortunes are looking for exceeds one million euros. Prices in this segment have dropped to a 25%.
These investors follow in the wake of the big businessmen who have begun to bet on Spain. This is the case of Mexican Carlos Slim, which bought a package of La Caixa branches at the end of last year, and the Venezuelan group Sambil, which acquired the Avenida M40 shopping centre in Madrid.
Market, REAL ESTATE Santa Pola.