By Paul Stubbs
Spain is a preferred destination for Brits buying property abroad. With warm summers, gentle winters, a wealthy historical background and an attractive Mediterranean way of life are just some of the factors that still bring in droves of foreign investors. If you’re thinking about buying a property in Spain being an investment, now is the time for making your choice. Spanish interest rates are lower and property prices are rising gradually. At any given time when Spain’s major airports are predicting a sharp rise in traffic over the next few years, lots of people think that the current pace of development will be unable to maintain rate with all the increased demand for exclusive and vacation accommodation. The result? House prices are arranged to rise even more so it is a great time to invest.
Over the last years, a growing number of foreigners have taken the plunge by purchasing Spanish property, whether in the form of a holiday home, buy-to-let investment or permanent residences. Nevertheless, because of the downturn in the economy and global credit crunch, we have seen a current decline in the number of people purchasing property in Spain and owners and developers alike experienced to lower their costs dramatically to be able to sell the properties.
Industry experts forecast that lower interest rates in Europe will help to stimulate the Spanish along with other European property markets. With lower interest rates and greater governmental pressure on banks to increase nationwide lending, property markets will begin to pick up again and most people will once more have the ability to finance their dream home in Spain. It has additionally reasserted itself being a popular vacation desired destination which will help the region’s holiday rental market a good deal. Additionally, there is a development in the amount of people looking to buy in rising markets outside Spain that has led to a glut of unsold properties on the Spanish coasts. However, recently, flights to several emerging European locations have been terminated and suddenly these countries shall no longer be appearing like such a good place for property investment.
Meanwhile, property prices in Spain have dropped in an attempt to clear the amount of unsold homes, so individuals are now applying this as an opportunity to snap up a bargain and this will still keep on. Many property experts are recommending people to purchase right now while prices are lower, so they can earn money on the property over time as the industry begins to stabilize once again.
Regardless of the changing economic circumstances, the underlying reasons why foreign buyers adore Spain stay the same. The year-round sunshine, easy going way of life and relatively lower living costs continue to be strong pull factors. The climate alone makes it one of the preferred destinations with over 300 days of sunshine each year and typical temperature ranges between 18 and 30 degree Celsius. Additionally, many people who are looking to retire abroad realized that emerging attractions may not have exactly the same quality of healthcare or family culture they see Spain offering them.
categories: property,real estate,Spain,overseas property,travel,holidays,vacations
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Stubbs, Paul "Why Invest An Overseas Property In Spain." Why Invest An Overseas Property In Spain. 27 Jun. 2010. uberarticles.com. 24 Jun 2015 <http://uberarticles.com/real-estate/why-invest-in-an-overseas-property-in-spain/>.
APA Style Citation:
Stubbs, P (2010, June 27). Why Invest An Overseas Property In Spain. Retrieved June 24, 2015, from http://uberarticles.com/real-estate/why-invest-in-an-overseas-property-in-spain/
Chicago Style Citation:
Stubbs, Paul "Why Invest An Overseas Property In Spain" uberarticles.com. http://uberarticles.com/real-estate/why-invest-in-an-overseas-property-in-spain/
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