"This 2022, in fact, could close with a number of transactions above 500,000, surpassing data already from 2019."
Forecasts for the real estate sector for 2023 show some uncertainty and some certainty, and overall it looks set to be a formidable year for foreign residential investment.
Experts agree that these twelve months will be characterised by a lack of land (still) and by the presence of more demand than supply in certain areas, both in cities and on the coast. In fact, 2022 could close with a number of transactions in excess of 500,000, surpassing the figures for 2019.
After the pandemic caused by COVID-19, many foreigners have flocked to Spain in search of a better quality of life, taking advantage of the boom in teleworking. Thus, during this 2022 the sale of homes in the national territory to foreign investors, mainly of European origin, has increased by 52.7%. A situation that will continue to follow the same path.
From the Commercial Department of DEXTERGuillermo Díaz, the person in charge of the project, points out that "Even before 2020, Spain was a country that attracted foreign residential investment in search of sunshine and quality of life. Now, our alternative financing operations for developers and builders have soared precisely to provide resources to entrepreneurs who make developments largely bought by international audiences"..
The fact is that middle-income investors are taking advantage of the price of housing in Spain to settle in the country while teleworking. In this context, we will have to keep an eye on the evolution in 2023 of both inflation and the rise in mortgage interest rates, as well as the supply crisis. All of this is affecting traditional banking and giving private equity a huge weighting.
