Spanish Property an Evergreen Investment

Spanish Property an Evergreen InvestmentIs there no stopping the popularity of property in Spain as an investment commodity?  Seemingly not according to a series of recent news items that just serve to prove that Spanish property is an evergreen investment…

The first piece of news to prove this comes from the Spanish National Statistics Institute which has revealed that the property market in Spain has been boosting the Spanish economy directly and was responsible for better than expected economic growth in Spain in the second quarter of 2006.

Spain’s GDP was up almost 1% in the second quarter of 2006 compared to the first quarter, and the overall economic growth rate for the nation was 3.7% according to the Institute.  Their findings reveal that Spain’s economy is one of the fastest growing in the Euro Zone and that this is as a direct result of three things, an improved export market, strong internal consumer consumption and an incredibly popular and successful property market.

The second piece of news is that Spain is actually welcoming more expatriates than ever before who are relocating permanently to live in their Spanish homes.  Not only is Spain the second most visited country in the world after France but it has one of the fastest growing expatriate populations with almost fifty thousand Britons alone registering for permanent residency in Spain last year.

These new residents own homes in Spain and are just a tiny fraction of the number of foreign homeowners who have temporary residence or who just holiday regularly in their Spanish property.

All of these people crave Spanish property, all of these people have purchased a house in Spain and as a result all of these people are responsible for the success of the real estate market, the increase in internal consumer consumption and a strengthening economy built off the back of the fact that Spanish property is an evergreen investment that has been tried, tested and not found wanting.

The final piece of news that further confirms Spain’s place as one of the most popular places in the world to own a home is the fact that real estate prices in Valencia which will host the 2007 America’s Cup yachting regatta have been shooting up – prices have increased by over 6% in the last three months alone as investors buy into a period of sustained growth which is built on the back of the improvements and worldwide attention that Valencia is receiving.

While Spain continues to be such an incredibly and broadly appealing country so property in Spain will remain one of the most desirable of all tangible assets for many people and it will serve to underpin and boost a successful economy.

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