Wealthy pouncing on prime spanish properties as murcia and alicante struggle says lucas fox

Prime properties in good locations should help the Spanish market begin to show some “positive signs,” international agency group Lucas Fox told OPP this week.

Having analysed the 2011 second half markets in Barcelona, Mallorca, Ibiza and Costa Brava, where the company has its main offices, Lucas Fox concluded that:

• Prices in the prime locations of Barcelona in remained resilient through 2011 but it remains possible to purchase properties at discounts of up to 30% on 2007 prices.

• The Ibiza property market experienced a healthy 2011 with strong demand from international buyers for luxury properties cross the island

• The Mallorca market is currently very slow but there are signs that it will replicate the 2011 success of Ibiza with predictions of increased foreign property investment in 2012

Source: OPP.org.uk