Spanish property 'a target' for high-net-worth individuals

Luxury properties in Spain remain a target among wealthy investors, one real estate firm has revealed.

According to Lucas Fox International Properties, the problems surrounding the country's real estate sector do not extend to the top end of the market, with the firm completing transactions worth £19.5 million during the third quarter of this year.

Director at the company Alex Vaughan commented: "Spain continues to be one of the top destinations for high-net-worth property buyers. Our projections for Barcelona, Costa Brava and Ibiza, as published in our recent market reports, have become a reality."

In August, the firm noted that during the second half of this year, both Barcelona and the Costa Brava were set to benefit from high levels of demand coupled with a lack of supply of properties at the top end of the market.

Meanwhile, in Ibiza residential real estate was said to be sought after among international jetsetters and those seeking a sound holiday home rental opportunity.

Anthony Leaton, marketing director at Lucas Fox, predicted that this high demand from overseas buyers is set to continue in Spain and may even grow.
 

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