Spanish luxury property market 'continuing to attract investors'

The Spanish luxury real estate sector is holding up well, despite wider problems with the country's economy and housing market.

Lucas Fox International Properties revealed that high-end homes in Barcelona, Ibiza and on the Costa Blanca have been in demand during the first half of this year.

Barcelona, for example, has seen "steady" sales prices, while rental increases are expected in prime parts of the city.

Alex Vaughan, director of Lucas Fox, commented: "The lack of quality luxury apartments and houses should mean that prices in this segment of the market will remain stable."

He went on to predict "a very positive second half of 2011" for the high-end property market in Ibiza, adding that assets in this area have "great potential", with such homes likely to experience capital growth during 2012.

Earlier this month, European sales director for Atlas International James Dearsley stated that investors are looking at the long-term prospects for overseas real estate, noting that there are "good returns to be made" in relation to both rental and capital value growth.

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