After some arduous years, Spain began its economic recovery in 2014, which took place in the main Spanish capitals and soon extended to other cities. In the last four years the economic revival has led to an increase in foreign investment and a facilitated access to finance for Spanish people. It gave rise to possible domestic consumption, unemployment to diminish, and investment opportunities to flourish.
The optimistic forecasts that international organizations such as the International Monetary Fund, the World Bank and the European Central Bank made about the evolution of the Spanish economy at the beginning of 2015 caused a wave of investment by large investment funds and International companies. This accelerated recovery enabled the growth of the Gross Domestic Product during 2016 and 2017 which was the largest in the Eurozone and higher than in the United States.
Despite the euphoria that generated these data, Spain is not estranged from internal and external problems. The crisis in Catalunia, the first dismissal of a Spanish president in the history of the country for a proposed censorship or the way in which the Spanish bank reacted to the Turkish lira crisis created a climate of uncertainty. These facts reflect that although Spanish economy increased and that it is on a good path it is not yet completely out of the crisis.
As for the Spanish real estate sector, the financial crisis has provoked its Professionalization.
In the last four years, on the one hand, large investment funds such as Blackstone or Cerberus have purchased mortgage debt packages from the Spanish bank and, on the other hand, there has been a large foreign investment in the real estate sector. This investment has resulted in some cities arriving at prices before the financial crisis.
When investing we must take into account that it is possible that a slight correction of prices will be made in some cities and that large international funds will make a disinvestment and fill the market with new real estate offers in the future.