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  Spanish Real Estate Business is Growing 04-08-2015

With all the recent renewed interest in the Spanish market, it is encouraging to see that not only are property inquiries rising, but so is the number of agents.

In 2014, the number of Spanish real estate businesses rose by 10.9%, according to data from the eleconomista.es website – and it looks as if the results for 2015 are set to be even better.

Not only that, but the real estate sector was responsible for 3% of all new firms in Spain. The total capital of the sector is more than €1,200 million with the average capital per company at around €450,000 – only beaten by energy sector firms.

Over the last three years, the number of new firms in the real estate industry in Spain has risen by almost a quarter, with 5,354 start-ups in 2011 and 6,634 in 2014.

Around half of Spain’s 50 provinces have seen increases in new real estate businesses, led by Madrid, with 1,428 new companies incorporated in 2014 – almost one in five in the sector – followed by Barcelona, with 868 new companies constituted (13.1%); Malaga (619 companies and 9.3%); Alicante (409 and 6.2%) and Valencia (351 and 5.3%).

From 2011-2014 the number of limited partnerships increased 24.3% and corporations by 15.5%. Despite the rise, they are still less than two-thirds of the 10,000-plus new companies that were added to the real estate sector in 2008.

Real estate professionals have noticed the increased activity. Martin Dell, Director of UK-based Spanish property specialist, Kyero, says, “Speaking with some of our advertisers, they’re also seeing new estate agents entering the market now.  It’s no secret that the Spanish property market – led by international investment – has bottomed out and prices are steadily climbing again now.”

The real estate industry is boosting the economy. In 2008, just as the housing market crashed spectacularly, more than 10,000 new real estate companies were registered in Spain. Many of those companies folded following the crisis, but recently the creation of new real estate business has started to recover, growing by nearly 11% last year.

“With figures now available for the first five months of 2015, growth this year has been even stronger. So much so, that the real estate sector has experienced the largest increase in new businesses out of all industries in Spain.

“Unemployment is expected to drop below 20 per cent next year and, though there’s no hiding from the fact that this is still much higher than the European average, the rate is falling at an encouraging rate and the number of new companies and people working in the housing industry is leading the recuperation.”

Among growing agencies in Spain is Lucas Fox, which has vacancies across Spain, including a full-time Office Manager in Ibiza, sales and lettings staff in Barcelona, Maresme, Madrid and Costa Brava and a receptionist in Barcelona.

Lucas Fox says applicants need to be experienced, hard-working and enthusiastic and who can work autonomously and as part of a team.

Candidates must have excellent communication and language skills – fluent in Spanish and English as a minimum requirement. Lucas Fox offers a good basic salary, plus attractive sales and listing commissions.

Lucas Fox, which celebrates its 10-year anniversary this year, has just opened its fifth Property Lounge in Begur on the Costa Brava, which accommodates six sales and administrative staff.

Costa Brava Director Tom Maidment says, “For a while now we have been looking to strengthen our business in the region and we believe that market conditions are now ripe for us to open a local office to even better serve our national and international clients. Begur is the ideal location for us from both a geographical and commercial point of view.”

Source: opp.today