The National Association of Real Estate Agents of Spain (ANAI) signed a cooperation agreement with Colombia and Ecuador during the 7th Latin American Real Estate Congress. The main goal is to promote the free movement of investments and synergies in this sector on both sides of the Atlantic.
This is not the first step that ANAI is taking to gain a foothold in the South American real estate market. Similar agreements have been concluded in Guatemala, Peru and Argentina. In addition, Costa Rica is expected to join this list. Anna Puigdevall, CEO of ANAI, said this in an interview with the publication "Confidential Digital".
The agreement with the employers' associations of Colombia and Ecuador revolves around three main pillars.
Firstly, it is aimed at developing market synergy, which will solve such tasks as training highly qualified real estate agents, sharing knowledge in "proptech" (real estate technologies), etc. Secondly, according to Puigdevall, the countries seek cooperation to learn from each other. This includes, for example, regulating the sector and comparing the legislative framework of different cooperating countries.
Finally, the agreement provides for a series of transatlantic trade missions. Since 2023, investment and trade ties between the countries will develop in order for potential investors to freely visit markets, evaluate projects requiring new foreign investments, and freely transport their capital.
As the director of ANAI explains, Spain can benefit from this agreement by increasing interest in the Spanish market from investors and buyers from Latin America, who have long interested in Spanish real estate. According to Puigdevall, there are many people who, for reasons of economic security, are looking for residential real estate in Spain. But there are enough Latin Americans who are ready to settle on the other side of the Atlantic.
The most sought-after real estate is located in central Spain, for example, in Madrid. The Costa del Sol is also of interest. The latter is very popular with entrepreneurs from Latin America, who choose the region to develop their hotel projects. At the same time, for investors from Spain, Mexico is one of the key destinations among the countries of South and Central America. It is followed by Colombia.
The agreement reached by ANAI involves the Colombian Federation of Real Estate Exchanges (FEDELONJAS), which includes more than 1,000 companies and 10,000 Colombian real estate agents. The representative of the Ecuadorian market is the National Federation of Real Estate Brokers of Ecuador (FENACBRE), which is responsible for providing professional protection of real estate in the country.