The substantial housing market downturn during the original 2008 credit crunch means that Spanish luxury property markets are now appealing to global investors looking for value opportunities. Spain’s luxury property markets could be leading a comeback, according to a report by British daily The Independent. The reports cites bosses of several Spain-based property companies who claim rising sales and enquiries of luxury properties in high end resorts such as Sotogrande, a Costa del Sol resort renowned for its world-class golf facilities.
Richard Way editor of the Overseas Property Guide told The Independent that at the top end of the Spanish luxury property markets “I am being told things are now more buoyant with international buyers including the Russians and Chinese coming to market and stabilising prices.' Meanwhile, the director of another leading Spain-based realtor seems to support the ‘recovery’ thesis: “International buyers are flocking to the Costa del Sol to soak up the cut-price stock, but the kind of home they’re after is in exceptionally short supply. Wealthy taste-makers are generally not into Andalucian-style fincas with pretty balustrades and Arabic roof tiles but instead seek contemporary villas or beachfront apartments with clean lines and floor-to-ceiling glass.”
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This article appears in the March editions of The Global Luxury Property Review, a monthly article compiled by Butterfly Residential offering a snapshot of the sector. Butterfly Residential is a boutique, professional, high-end property company specialising in sales and rental of luxury property Marbella, London and Barbados . Butterfly Residential is headed by Edward Fairless and Nicola Fairless, a brother and sister team who are the new sensation in the global luxury property sector. Address: Bulevar del Principe Alfonso Von Hohenlohe, C.C Tembo, Local 4B, 29602, Marbella, Málaga, Spain.
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