Catalonia looks to the future

Whilst the overall property picture in Spain is still reeling from the ongoing banking crisis and Eurozone confusion, regional differences in prices are in some places extremely stark, and the predictions of what will happen in the near future depend on many factors.

Already acknowledged as an economic powerhouse of the country as a whole, Catalonia has a long and distinct history which includes its own widely spoken language and cultural traditions. As one of Spain’s most important regions, it is going through its own changes and upheavals.

Capital Barcelona is rightly regarded as one of the most desirable cities in Europe and consequently the Spanish House Property Index reports that in the third quarter of 2012 prices were 71% higher than elsewhere in the region and 170% higher than the overall prices in the rest of Spain.

Although increases since 2005 have been minimal, they have recovered from a stark drop in 2008 and now stand a few percentage points higher than eight years ago.

With Catalonia extending along the coast to take in developments such as the golfing, gastronomy and beachside appeal package of PGA Catalunya, there is much more to pique the interest of the investor than just the nearby lure of Barcelona with its classic architecture and vibrant culture and nightlife.

With the coming year expected to see an upsurge in debate about the independence question, now might be the time to take advantage of low prices and relative Euro stability before upheavals in constitutional matters highlight the region even more.

If you want to consider investing in property abroad, money exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers, so it is always best to use the services of an experienced foreign exchange specialist in all property transactions.

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