According to research from the international property consultants Jones Lang Lasalle, Spanish property investment levels during the first nine months of this year have nearly surpassed the levels invested throughout the whole of 2016.
Local and international buyers have invested a total of 9,679 million Euro’s in Spanish property between January to September of this year which amounts to 91.46% of the 9,508 million Euro’s invested during the previous twelve months.
Including figures for both residential and commercial property investment, the data from JLL reflects two trends in the Spanish property market recovery; growth in retail and increasing interest in residential property with investment is already on a par with last years figures for both sectors.
Investment in the retail sector has already overtaken 2016’s total of 2,977 million Euro’s, reaching 3,267 million by the end of the third quarter. Jones Lang Lasalle are predicting this figure will rise to 4,000 million Euro’s by the end of the year.
Last years total of 802 million Euro’s invested in residential property has also been outstripped with the level invested in the first nine months of 2017 reaching 1,188 million, underlining the upward trend reflected in other indicators such as property prices which saw a 5.6% year on year increase in Q2 and sales transactions which grew 14.7% during the same period and mortgage approvals which rose 32.9% in the year to July.