Despite wider problems across the Spanish property market caused by the economic crisis, the exclusive market for luxury properties is thriving well.

It has been revealed by Lucas Fox International Properties that homes within the higher end of the market in Barcelona, Ibiza and on the Costa Blanca have been in high demand during the first half of the year.

Barcelona has continued to see steady sales prices on properties, whilst there are increases expected for rental properties within prime parts of the city. This means that investors in property there can expect to get a good rate if they rent their property out.

Director of Lucas Fox, Alex Vaughan, says; “The lack of quality, luxury apartments and houses should mean that prices in this segment of the market will remain stable.” Mr. Vaughan then went on to say he expects “a very positive second half of 2011” for the Ibithan property market, stating that houses in this area have “great potential” and are expected to see significant growth in 2012.

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