Advantages and Disadvantages of Buying Property in Spain

The British media may well have given the Spanish property market something of a bashing of late with great focus placed on declining real estate prices and waning interest among the buying public, but the truth of the matter is, Spain remains an incredibly popular tourism destination and one of the most popular countries in the world in which us Brits would like to own property.

So if you’re considering Spain and want to know more about the advantages and disadvantages of buying property in Spain, read on to find out some facts and some truths that may well guide your purchase decision.

First things first, as stated Spain remains one of the most popular nations in the world for holidaymakers and it is actually number one on the list of locations in which we Brits love to holiday each year.  What this means is that if you’re thinking about buying real estate in Spain for investment purposes, you do have a chance to tap in to this level of tourism based demand and rent your property out.  Naturally, with prices having risen so rapidly in recent years in the most popular hotspots, rental yields have been squeezed and nowadays you have to shop carefully for property to ensure you get a decent level of rental income to make an investment viable.

If you’re simply thinking about buying a home in Spain for your own enjoyment – either as a holiday home, a new home for all the family or a retirement property – then the fact that Spain has such an incredible climate is possibly one of the main advantages in the nation’s favour.  You can add to this the low cost of living, the high standard of living, the quality and affordability of delicious food and fabulous drink and the hospitable local people and there is already so much stacking up in Spain’s favour!

Unfortunately, the cost of real estate in Spain is a very real disadvantage, as are the additional costs associated with buying a home in Spain such as the taxes and fees payable to estate agents and solicitors.  These cannot be overlooked.

On the advantageous front again there is the fact that Spain is so easily and cheaply accessible from the UK nowadays – and Spain’s internal transport infrastructure is exceptionally good meaning you can get around the country easily and you can also travel to other destinations within Europe affordably and swiftly.

All in all Spain is an incredibly attractive country to consider a property purchase in – however, the massive gains that the market has seen of late were of course unsustainable and if you buy property in Spain right at the moment, it may be a few years before you see any form of growth in terms of your property’s intrinsic value.  If this doesn’t put you off the nation, then what’s not to love about Spain?

Page 1 of 1