If you are thinking of, or are in the process of buying property in Spain, you may be have asked yourself if this is the right moment to do it.
Spain, known for being one of the places with the best quality of life, is one of the most favourites destinations in the world for property investors. Owning a property in Spain is an aspiration for many people, specially along the Mediterranean Coast, Balearics and Canary Island, to spend their holidays in the sun, work or retire, or simply to invest in overseas property.
The Spanish housing market
After several years of falling property prices in Spain, they have been gradually recovering since the last financial crisis. They have been starting going up once again making Spanish property a good investment, and they are still being very good value for money if we compare it to purchase a property in other country.You can still find bargains, but for this, time is of the essence if you want to ensure you make a good investment at the right time to avoid someone purchase it before you, or you wait too much and after it, the property price is higher and not affordable to your budget. Buying a property now, when property prices are still on your budget, will make you able to obtain a benefit when it increases the value in the future.
Rental Income Potential
A lot of people spend holidays in Spain by renting a property. This is a fantastic opportunity for those wishing to invest in property. Demand is high and more properties are needed to cover this demand.
A lot of purchasers look to buy a property that gives them the chance of spending their overseas holiday as well as highest possible return on their investment. With this income potential, the buy to let is a very intestering option to consider.
Spain is a good option for first-time buyers
Buyers who purchase for first time are increasingly looking to buy Spain. The reasons are a combination of affordable property prices together with a cheap cost of living. Countries with the highest salary finds more affordable the purchase of a property in Spain and enjoy the holidays in Spain rather than in many other countries.
The cost of living is much cheaper than in other countries, as well as the rentals, so Spain has also become a great alternative for young people to establish here and live permanently, apart than for retired people.
Higher quality of new developments
Actually, many developers are doing a big effort to show quality in their projects and are offering a product with higher quality to the buyers. You can find properties equipped with the latest technology combined with lot of facilities, beautiful surroundings, etc.
If you have found this article of interest, we recommend you download our free guide "How to buy your property in Spain safely".
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Founder & Chief Executive Officer. Oremfi by Aserpro.