Long-term outlook is positive for Spanish real estate

Despite a tough few years, the Spanish real estate sector will return to health, one analyst has predicted.

Sabina Kalyan, European head of research at CB Richard Ellis, told IPE that the property market in the country is "thawing", with a number of investors already beginning to return.

Her comments come after the latest figures from the National Institute of Statistics show that there were 38,838 home sales in July, up 15 per cent on the same period last year and 16 per cent on the previous month.

"Some foreign investors have recently been making opportunistic deals, buying prime assets well-let to major multinationals at attractive yields," she told the news provider.

"I'm relatively hopeful about Spain. Unlike the UK, during the boom years it ran budget surpluses, so while the current financing difficulties are severe, the underlying position is sound."

The recovering real estate market in Spain could provide an opportunity for property investors hoping to find a home in Murcia or find property in Balearic Islands for a bargain price.

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