Spain again on the radar of the UHNWI for property investment
The country occupies the 6th place globally among the world's wealthiest
29 March 2017
Private investors from around the world have come back to in large numbers to Spain as a destination for their real estate investments. The political stability, as well as the growth perspective in terms of pricing and return have positioned the country as the sixth most attractive globally for Ultra High Net Worth Individuals (UHNWI's), defined as individuals with a private wealth of more than USD 30 million (approximately EUR 27,7 million) excluding their main residence.
According to "The Wealth Report 2017" it is the first time that Spain positions itself among the first ten of the ranking which real estate services company Knight Frank has composed since the last 10 years. The UK, US and Germany lead the classification which is the result of a survey amongst qualifying wealthy individuals.
Data of the company show that real estate investment in Spain reached EUR 8.3 billion in 2016, out of which more than EUR 1.2 billion came from private investors.
According to Bernardo Retana, Managing Partner of Otium Residences, the legal security and stable economic growth have been instrumental to attract new private capital. "The combination of an extremely pleasant climate, a well developed infrastructure, a rich culture, exquisite gastronomy and hospitable society make Spain an obvious choice for wealthy families to build up a portfolio of assets.
To download the report, click here.