Foreign property investment on the increase
Investment in Spanish property by foreign buyers has risen in the first trimestre of 2011 to 1.13 billion euros, which represents a surge of 28.7% year on year. This marks a return to foreign investment in the real estate sector, which has not been seen since 2008.
According to recent data compiled by the Bank of Spain, Foreign investment has not risen above the 1 billion mark since 2008, and has not seen such a strong rise in over 10 years.
Foreign investment in Spanish property has maintained a downward trend since 2003, although in 2007 and 2008 quarterly figures remained above the 1,000 million euros, although the falls were exacerbated in 2009 and 2010.
Meanwhile, the Spanish invested 185 million euros in real estate assets outside of Spain between January and March, a decrease of 25.7% compared with 249 million last year.
Unlike foreign investment in Spain, the Spanish foreign investment continues a downward trend and has not exceeded 600 million since 2007.
Orginal article: www.expansion.com