As well as building homes in the UK, European expansion has been one of GRE Assets’ strategic goals since 2013 and Spain is an area in which we continue to delve further into.
The Spanish property market offers an exciting investment opportunity thanks to strong transport links, ongoing regeneration, low interest rates and relative affordability when compared to other locations in Europe. There also continues to be a strong demand for new build residential property in Spain.
Below, we outline three of the top locations in Spain investors should consider when expanding their property portfolio – Barcelona, Málaga and Alicante.
With on average 2,500 hours of sunshine each year, sandy beaches and plenty of cultural attractions, Barcelona is an appealing place to live and rental demand is strong. While the city’s world-renowned tourism economy has been impacted by Covid-19 travel restrictions, as travel resumes it will no doubt return to being one of the most popular tourist destinations.
As one of the first smart cities in Europe, Barcelona has a reputation for being a trailblazer in urban regeneration. This access to high speed internet and digital connectivity not only benefits residents, but has also attracted expansion from major companies in the technology sector, including Facebook and Google.
Located in the Andalusia, Málaga offers unrivalled connectivity locally, nationally and internationally by both rail and air. There are also major investment projects changing the face of the city, including the expansion of Málaga City Port and the €800 million retail and leisure development at Torremolinos. Regeneration is one of our leading criteria for identifying a property investment location so these projects are good news for potential investors.
Like Barcelona, Málaga also has a growing technology sector, most notably at the Parque Tecnológico de Andalucia, which is currently under expansion. Home to over 60 international firms and 20,000 employees, the park is among the city’s large-scale local employers. It is this growing sector that is among the reasons Málaga is an appealing place to live and work.
With a strong expatriate population, Alicante is a popular place to live and visit in the Mediterranean. It also has smart city aspirations to increase connectivity and further improve its residents’ quality of life. Furthermore, the city’s strong property supply means there are a wide range of options for investors.
A gateway to Europe, Africa and the Middle East, Alicante is ideally located for business. This is boosted by the fact the intermodal city has strong air, boat, road, freight and public transport links. The University of Alicante also gives employers access to a highly skilled workforce, further making it an appealing place to operate.
GRE Assets has residential projects across Barcelona including Brises Diagonal Mar, Bac de Roda and Morales.Date: 27 April 2021