Investments in real estate in Spain in 2024 (acquaintance with the economy, tourism and real estate market trends).
Investment in real estate is a key basis for protecting and increasing capital in the future. The main aspect of creating a successful investment portfolio is always the right choice of an expert company to build an investment strategy.
Company VelesClub Int. has been successfully developing since 2015, occupying a leading position in the international real estate sector, by the end of 2023 our services will be available to investors and property buyers in more than 22 countries around the world.
Take a look at the Spanish economy with our international experts:
Last year, 2023, was favorable for the Spanish economy, although quite moderate. Business investment increased by 1.9%, and the construction sector grew by 3.6%. Per capita consumption increased by 0.9%, and government spending by 1.6%. Confirming the preliminary forecast of the Bank of Spain, Spanish GDP growth was stable and averaged 0.6% per quarter, that is, about 2.2 - 2.3% for the entire period of 2023. At the same time, exports decreased by 3.1%, imports decreased less - by 2%.
By the end of 2023, the Spanish economy remains in 5th place among the economies of the entire European Union. At the same time, the Government of Spain is tirelessly fighting for twelfth place on the world stage in the Economic Stability and Growth ranking; Australia is the main competitor for the country.
Let's turn to statistics and prospects: “According to the ranking of the World Economic Forum in Davos, in 2024, Spain will be among the top 20 countries in terms of industrialization rates, based on an analysis of specific rankings in 14 economic sectors. The main industries in the country are: production of automobile parts and accessories (Spain ranks 10th in the world); production of industrial machines (15th place in the world); blacksmithing (13th place respectively) and shoe industry (3rd place!). However, there are also sectors in which Spain has not been able to capitalize on its strengths, such as information and communications technology and the development of high-precision electronic equipment. Spain is not even among the 30 most technologically developed countries. The economic system of Spain is quite complex: in terms of GDP it lags behind leading European countries, but the average income per capita is close to the EU leaders (Germany and France),” states the facts, the Head of Analytics and Investment Block VelesClub Int. Ksenia Shamitko.
An important role in the success of the country is played by its favorable economic and geographical location. The Kingdom is located at the crossroads of the most important economic routes connecting continental Europe with many countries in America and Africa. At the same time, the Spaniards adhere to traditional values that allowed them to provide a comfortable standard of living for their citizens and concentrate on the development of the tourism sector.
Tourism in Spain and records for 2023.
Spain's Minister of Industry and Tourism, Jordi Hereu, told the world that the number of tourists visiting the country in 2023 exceeded the figure of 84 million, an all-time high, with the Kingdom's total tourism income exceeding €108 billion.
The growth of the tourism sector is very important for the development of the country's economy as a whole, which is an important sign of recovery from the crisis in the sector caused by the COVID-19 pandemic. We continue to monitor together the development of the country’s tourism sector and the positive actions of the Government aimed at increasing its efficiency.
Spanish real estate market, facts, figures and features.
Spain boasts a steady increase in property sales year after year. According to data from the College of Registrars of Spain, prices for apartments and households increased by 5% in 2023. The Kingdom shows a significant increase in sales on the primary housing market (about 18%), while on the secondary housing market the growth is more modest (about 5%).
Home sales for 2023 totaled nearly 650,000 units, with median price figures up less than 5% from 2022. According to statistics from the College of Registrars, the share of Spanish real estate sales to foreigners amounted to more than 20% and the average bill for such purchases is higher than that of residents, which has led to the fact that the share of foreign transactions is gradually gaining more and more weight in the Spanish real estate market. Among foreigners purchasing housing in Spain, the leaders are the British (9.5%), Germans (7.5%), French (7.2%), Moroccans, Italians and Romanians (5.4%).
“You are definitely a winner, if you have “real money” in the moment, you can actively bargain with sellers and reach a deal with the most favorable rate. Don’t forget to enlist the support of leading companies in the global real estate and investment markets for advice and transaction support to increase capital.” – summarizes the General Managing Partner of VelesClub Int. Sergey Tumanov.
Any real estate investment requires evaluation and balance, and complete trust in market experts. A team of experienced managers at VelesClub Int. I am always ready to answer all your questions and accompany you at all stages of the transaction and subsequent reinvestment and diversification of your investment portfolio.