Post-pandemic fiscal year 2022 was one of absolutely uncertain forecasts for all economic sectors due to rising interest rates, international instability due to the war in Ukraine, high inflation, etc.
With the year over, our initial assessment of the real estate market in general in Spain, and especially in the Barcelona metropolitan area and areas of influence, is that it was frankly a positive year. Barcelona is and will continue to be a very appealing city for both living and investing. Leadership at the technological level (with renowned companies based in the Catalan capital and fairs such as Mobile or Integrated System Europe) is also helping the real estate sector to continue to be a safe investment value, as Barcelona remains a leader nationally and abroad. Take, for example, The District fair, which will be held in Barcelona in October 2023. This is an event that specializes in real estate investment and which is expected to be a benchmark fair in the sector.
EUROFORO ADVOCATS has been in the real estate field for many years, advising individuals (buyers/sellers), such as real estate agencies, and having taken part in hundreds of real estate transactions. Most notable in the past fiscal year, now behind us, was the strong increase in international clients (mostly buyers/investors) who resorted to the services of EUROFORO ADVOCATS for their transactions. The number of international clients (both European and non-EU) grew by 43% compared to previous years, which is certainly remarkable.
What international clients demand from a law firm like ours is not only technical/legal assistance during the purchase/sale operation (assistance preparing down payment agreements, deeds, urban planning, rental contracts), but comprehensive, ongoing and personalized advice that provides not only legal assurances to the real estate operation (purchase/sale), but personal guidance throughout the transactions by engaging with the client directly and at all times, in all phases of the operation, working as a team with the client.
EUROFORO ADVOCATS has a team that specializes in international clients, assisting them with real estate investments and transactions, studying tax options, Golden Visa, banking compliance, which are among the most in-demand services by clients and which have provided a substantial boom to the department.
From the aforementioned Real Estate Department of EUROFORO ADVOCATS, led by partners MARCOS JOVER and ROSA MARIA ARASA (and the rest of the team of lawyers), we hope to continue guiding and advising our clients in the field of REAL ESTATE (both national and international) in 2023, a year that despite being no less uncertain, has made clear that the city of Barcelona and its area of influence will continue to be very attractive for investors or to set up residence.