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Luxury real estate in Spain continues to rise

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27.01.2018

The average cost of housing class "luxury" in Spain last year increased by 6% and amounted to 6 225 euros per square meter, while in major cities and popular tourist areas, the growth rate was more pronounced and reached the level of 12%. As reported by Reuters, in the last category prices reach 10 000 euros per square. All of these indicators of a premium estate with a huge gap ahead of the normal new housing, which rose by approximately 5% and costs an average of 2200 euros per square meter. According to the statistics of the Spanish division of the company Barnes International Realty, positive trends in the economy have an impact on the production of "Lux" class, the average time to sell which is 5.5 months and is reduced to 2 in the case of the most sought-after areas. In the last quarter of the year the situation was somewhat affected by the political conflict in Catalonia, however, experts hope that soon the situation stabiliziruemost. "What is happening in Catalonia is temporary, so the impact of the conflict will come to naught in a few months, when the region again will be calm, and buyers and investors again begin to see it as one of the most prosperous in Europe, of areas providing opportunities for investment”, - the partner of Barnes International Realty Emmanuel Virgola. The real estate sector, which suffered huge losses due to the economic crisis, for several years showing signs of recovery. This is evidenced by the resumption of the activities of developers and other companies in the industry, as well as rising prices and number of transactions. Information taken from noticia EN