Cheap property in Spain is not the countryââ¬â¢s only popular investment, as luxury homes continue to sell despite the economic gloom.
Rich foreign investors continue to purchase expensive houses in Spain, with Lucas Fox International Properties selling ââ¬19.5 million-worth of luxury Spanish property in the third quarter of 2011 ââ¬â a record-breaking period, and its most successful since opening in 2005.
The luxury property agency, which sells homes in Barcelona, Costa Brava and Ibiza, welcomes the high number of wealthy investors:
"There is a lot of negative press about the Spanish property market,ââ¬Â Director Alex Fox told OPP. ââ¬ÅHowever Spain continues to be one of the top destinations for high net worth property buyers.ââ¬Â
The demand for expensive homes ââ¬â rivalling that of British buyers looking for cheap property in Spain ââ¬â is expected to continue. ââ¬ÅOur projections for Barcelona, Costa Brava and Ibiza as published in our recent market reports, have become a reality,ââ¬Â Fox commented.
Marketing Director Anthony Leaton added: ââ¬ÅWe predict that the high level of demand from international buyers will continue to grow.ââ¬Â
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