Print ArticleOn top of every European property buyer´s list is Spain. This is hardly surprising, as the country offers a welcome respite from the bleak London weather with its pristine white beaches and awe-inspiring mountains, beautiful scenery, good food, fantastic weather and warm people. Home to a few of the world´s major cities, Spain is very accessible for leisure and business travellers alike with their good network of roads and airports with regular flight offerings to many of the world´s major destinations.
Studies by some foreign currency experts also reveal that Spain is one of the most preferred second home destinations among Britons. Britons count on weather and lifestyle as the main reason when in comes to purchasing an overseas home, even ranking these factors higher than the possibility of making a profit. The country´s warm weather is the main factor that lures buyers. With most of Britain experiencing increased prosperity in recent years, many are looking for a second home, preferably one in the sun to escape both the weather and the rat race. A holiday getaway – whether a villa or an apartment – is seen by many to not be just a luxury or an investment opportunity, but a real necessity in their life.
With the great demand for property in Spain, property prices are also on a continuing rise. However, the price increase has levelled off in recent years, primarily due to the changes in buying patterns of the Spaniards themselves. Less Spaniards are purchasing houses for investment gains. Instead, Spanish families who purchase residential properties do so by replacement, or by giving up a former home and moving to a new one with more space and in the hopes of a better quality of living. This is definitely good news for foreign investors.
Moreover, the Spanish economy is on the growth track with its infamous unemployment rate being at its lowest in almost 30 years. Furthermore, Spanish property construction markets experienced a substantial increase in the past few years, far greater than the European average. Despite the slowdown of the Spanish property market along with the rest of Europe´s, there are still many good property opportunities emerging. The market´s slowdown is very good news for cautious long-term investors as off-plan bargain priced properties abound.
Off-plan villas and apartments are the current trend in Spanish property development. Off-plan property investment means purchasing into a yet-to-be constructed development. While there are some risks when in comes to the credibility of the developer and the timetable of completion, buying off plan is one of the cheapest ways to invest in prime property. Off-plan developers are eager to sell their properties early, and do so at extremely competitive prices. Though off-plan properties are obtained at prices well below market value, the biggest selling point in this type of investment is the very low cash shell-out. Usually, buyers only pay 35% of purchase price as deposit and no further payments will be required until completion.
Buying off-plan property in Spain is definitely a very good idea. The key to making it work is to make sure you buy from a distressed developer. To figure out the situation of the seller, make below market value offers on lots of properties. Eventually the potentially distressed sellers will identify themselves via their willingness to do a deal with you.
Finally, with Spain being one of the fastest growing property markets in Europe, purchasing a property now and holding on to it for the long term could result in substantial gains long term. What is better than having a holiday destination of your own that increases in value over time?
Studies by some foreign currency experts also reveal that Spain is one of the most preferred second home destinations among Britons. Britons count on weather and lifestyle as the main reason when in comes to purchasing an overseas home, even ranking these factors higher than the possibility of making a profit. The country´s warm weather is the main factor that lures buyers. With most of Britain experiencing increased prosperity in recent years, many are looking for a second home, preferably one in the sun to escape both the weather and the rat race. A holiday getaway – whether a villa or an apartment – is seen by many to not be just a luxury or an investment opportunity, but a real necessity in their life.
With the great demand for property in Spain, property prices are also on a continuing rise. However, the price increase has levelled off in recent years, primarily due to the changes in buying patterns of the Spaniards themselves. Less Spaniards are purchasing houses for investment gains. Instead, Spanish families who purchase residential properties do so by replacement, or by giving up a former home and moving to a new one with more space and in the hopes of a better quality of living. This is definitely good news for foreign investors.
Moreover, the Spanish economy is on the growth track with its infamous unemployment rate being at its lowest in almost 30 years. Furthermore, Spanish property construction markets experienced a substantial increase in the past few years, far greater than the European average. Despite the slowdown of the Spanish property market along with the rest of Europe´s, there are still many good property opportunities emerging. The market´s slowdown is very good news for cautious long-term investors as off-plan bargain priced properties abound.
Off-plan villas and apartments are the current trend in Spanish property development. Off-plan property investment means purchasing into a yet-to-be constructed development. While there are some risks when in comes to the credibility of the developer and the timetable of completion, buying off plan is one of the cheapest ways to invest in prime property. Off-plan developers are eager to sell their properties early, and do so at extremely competitive prices. Though off-plan properties are obtained at prices well below market value, the biggest selling point in this type of investment is the very low cash shell-out. Usually, buyers only pay 35% of purchase price as deposit and no further payments will be required until completion.
Buying off-plan property in Spain is definitely a very good idea. The key to making it work is to make sure you buy from a distressed developer. To figure out the situation of the seller, make below market value offers on lots of properties. Eventually the potentially distressed sellers will identify themselves via their willingness to do a deal with you.
Finally, with Spain being one of the fastest growing property markets in Europe, purchasing a property now and holding on to it for the long term could result in substantial gains long term. What is better than having a holiday destination of your own that increases in value over time?
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