The Wealthy Keeps Spending!
Posted by Administrator (admin) on Jun 15 2008
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June 12 2008

With a slowdown in the economy, house prices falling and the unemployment rising, a lot of people are no longer interested in investing or buying property in Spain.

While sales in the low to mid price ranges have fallen dramatically, the wealthy seems unaffected by the current trend.

Properties priced at a million + are still selling at the same rate as previous and the prices are unaffected due to supply and demand.

Especially in the major cities as Barcelona and in particular Madrid, the demand for apartments in renovated buildings, lofts, commercial properties and new designer apartments in exclusive buildings are highly sought after.

As well, Frontline villas, with unobstructed sea views, in sought-after locations such as the Spanish islands have also maintained their value well, despite the current slowdown.

Sources dictates that this is a growing trend and that the high-end priced properties could very well rise in price in the coming months, due to the demand as earlier mentioned!

by N.K.H.

Last changed: Jun 16 2008 at 2:59 PM

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