"It's a great time for developer finance".
The trend is very clear and is reflected, month by month, in the statistical tables: coastal housing is not only rising in price, but is increasingly in demand by buyers. Moreover, it is a key fact that foreign investors are once again gaining weight in the sale and purchase of beachside properties, in a demand that is expected to be sustained in the long term.
This dynamic is leading developers and builders, together with their teams of architects and other professionals, to take up projects, accelerate them and start to make them a reality once the corresponding licences have been obtained.
DEXTER is contributing, through its investment funds, to the financing of entrepreneurs developing high-rise housing, detached houses and luxury villas, thus covering the entire market.
Its Chief Risk Officer, José Enrique Chasserot, points out that "In the face of the doubts, even publicly exposed, of traditional banks, companies are turning to investment funds as a mechanism to unlock projects that, in much of the Mediterranean coast, are perceived as clear winners, with great liquidity. It's a great time for developer finance"..
In areas such as the Balearic Islands, the square metre is already paid 60% above the national average, and in the city of Palma de Mallorca 72.7% more than the average for the country as a whole. Malaga, another of the areas where foreign investment is strongest, also shows purchase prices well above the national average, 33.5% higher. The cost per square metre in the capital of Malaga is the highest in Andalusia.
At the end of the first quarter of the year, foreigners bought more than 70,000 homes in Spain, a figure more than 5,000 higher than the peak recorded before the pandemic. The British continue to lead the ranking in total purchases, with some 7,800 houses in the last year.
