Spanish Property
Why Buying Property in Spain Makes Sense
In terms of the British love affair with Spain in light of the fact that the property focused media has turned its collective attentions firmly elsewhere, (anywhere elsewhere it seems), it’s not abating! Of the 1.3 million British retirees living abroad 74,000 of them live in Spain for example, and of all the destinations in the world in which we could holiday Spain is still our number one choice it seems.
These factors and many more are why buying property in Spain makes sense - and if you’re in two minds about whether to make a Spanish property purchase at this time, in this article we’ll give you plenty of food for thought so that you can make your buying decision accordingly.
When Property Buying in Spain Watch the Market
Britons dreaming of retiring to the Spanish sunshine and of buying property in Spain will find the time for watching this market closely is right now. While current investors are no doubt concerned about the market’s apparent downturn, the news is relatively good for future buyers.
According to the Spanish College of Registrars, residential sales are down by as much as 10% in Spain which has many believing the country’s boom days are over – at least for now. New property sales for the first six months of 2007 fell by more than 12% and the sale volume for resale properties dropped about 8% so, when buying property in Spain, watch the market.
Success of the Spanish Property Market
Martin Dell, real estate expert and founder of the largest independent Spanish property portal Kyero.com has the evidence to prove that the Spanish real estate market is not only recovering at a sustainable pace, but that the market based out late in 2006/early in 2007.
Furthermore, Martin Dell has the figures and statistics to prove that investor and buyer interest in Spain is particularly returning to the higher grade marketplaces first, suggesting that short term speculative investment has waned but that the Spanish market is benefiting from strong demand from more affluent buyers. This bodes well for the sustainability of the market’s current growth patterns and for the longer term success of the Spanish property market as a whole.
Costa del Sol Favourite Spanish Property Hotspot
Thanks to a brand new search facility available exclusively at Kyero.com which is the largest English language Spanish property portal, it’s now possible to search specifically for coastal Spanish property and find the most in demand locations or the property nearest the coast that most suits a buyer’s budget.
As a result of this new search feature, the MD of Kyero.com has revealed that the Costa del Sol is the favourite Spanish property hotspot – in terms of searches received it is in joint first position with the Costa Blanca and combined, these two Spanish property hotspots took almost a half of all searches among potential purchasers in September.
Buying Spanish Property in Toledo
Some potential property buyers might think Spain’s just sun-drenched beaches and crowded tourist regions but those who take the time to delve into this country a little deeper will find many wonders beyond the sun, sea and sand. The interior landscape of this stunning European country also offers much to see, to do and to explore.
If the interior, its diverse and dramatic landscape and fascinating history appeal to you buying Spanish property in Toledo might also appeal to you. In this article we’ll take a closer look at the city of Toledo, its history and its property market. Although Toledo is far away from the beaches, it does provide an interesting pace of life and a rather active property market to examine.
Investing in Spanish Property - a New Strategy
Buying property in Spain has long been the British thing to do! With roughly 300,000 Britons already calling this country home and hundreds of thousands more visiting Spain annually, the evidence of Spain’s real estate boom lies in the numbers – but with recent negative press reports claiming the investment market in Spain isn’t attractive any more, is Spain still worth considering?
Well, the unique history, incredible beaches and cosmopolitan cities all serve as major attractors for buying property and living in Spain; add in a slightly lower cost of living compared to the British standard (if property is taken out of the equation of course) and the legendary Mediterranean climate, and the reasons why Spain has and continues to appeal are actually quite clear. So, as Spain has an evergreen appeal here’s an article about investing in Spanish property and adopting a new strategy!
Buying Property in Spain is Getting Riskier
Only just a few years ago Spain was the land of sunshine and promise. Buying property in Spain was considered a decision that would pay off with big financial rewards. Fast-forward to 2007 and this property market is now officially sitting on shaky ground. Some investment and real estate experts are describing what’s happening in the Spanish property market as a crash; others are saying the market has become paralyzed. But what is really happening in Spain?
According to the International Herald Tribune, Spain’s property market is faltering in a big way for a number of reasons. First off, interest rates have increased dramatically making home financing much more difficult. Secondly, the building boom that fueled this country’s economy has now left an abundance of properties on the market. Where there was once a lack of options, there is now a glut. Add to these two things the fact that mortgage lenders are getting antsy and they’ve made approvals more difficult to come by, and all the ingredients for a major downturn are well in place and therefore, buying property in Spain is getting riskier according to some.
Spanish Property a 2007 Review
They say hindsight is a wonderful thing – well, when it comes to the Spanish property market, facts about who was buying what and where in 2007 can certainly help would be investors and home purchasers determine where they do and don’t want to be buying Spanish property in 2008!
Thanks to the award winning Spanish property portal Kyero.com, it is now possible to quickly access the facts and stats about who bought what in which region of Spain and for how much money, and then work out from the trends which Spanish locations are likely to be hot and which are not in 2008.
Property in the Canary Islands
2007 was a bad year for the Canary Islands – it saw tourism arrivals down and median property prices decline on the majority of the inhabited islands. But just when it seemed the Canary Islands could be falling in favour and fashion, the popularity of the likes of Fuertaventura, Lanzarote and Tenerife has been turned around as the British media collectively get behind promoting the appeal of the islands.
After a report from ABTA, (the Association of British Travel Agents), in December revealed that the 2007 washout summer in the UK had prompted record numbers of Brits to buy winter sun holidays, the British media began looking at where everyone was likely to be headed, and the Canary Islands came towards the top of the list! So, should you not only be holidaying there but buying property in the Canary Islands? Well, if you want a Spanish property bargain you should!
Spanish Property Secrets
There has been much talk in the media about the Spanish land grab, a decline in the fortunes of property developers in Spain, of a buyer’s market emerging and falling property prices putting a downer on the stunning Spanish climate and lifestyle for many of those who have already made the move to live, work or retire in Spain.
But – this is all negative media hype for there are some Spanish property secrets that few are focusing on and which actually bode exceptionally well, not only for the long term health of the market, but for the fortunes and happiness of all those still dreaming of living in Spain or of investing in profitable Spanish real estate…
For Affordable Portuguese Property Move to Spain!
Are you a golf lover, do you love the stunning Atlantic Sea coastline, are you attracted to wide sandy beaches which are not over crowded in the summer and do you long for a home on the Algarve in Portugal? But what about those property prices? As the most expensive region of Portugal, the Algarve, however stunning, is out of reach for many people – and so for affordable Portuguese property may we suggest you move to Spain!
No, we haven’t gone crazy...there’s a hidden corner of the Spanish mainland that shares so many traits with Portugal’s fabulous Algarve region, but the one overriding benefit this region offers is affordable property prices. The province is called Huelva and in this article we’ll examine its appeal.
Spanish Property Sales Slow Dramatically
The latest property sales figures for Spain’s once booming property market bring hard evidence of the continued slow down. The figures produced and compiled by CRE show that the total volume of property transactions for 2007 fell by almost 14%. More alarmingly the greatest fall came in the fourth quarter when the total number of property transaction plummeted by 21% from 203,993 in 2006 to just 160,906 in the same period for 2007, giving hard evidence that there’s unlikely to be any form of recovery in the first half of 2008.
The Spanish government announced that property prices in Spain only rose by 4.8% in 2007 down from 9.1% in 2006 and Spain’s lowest property price increase since the boom began one decade ago.
Spain’s property market has been hit hard by a combination of rising interest rates and the global credit crunch, and is expected to remain soft throughout 2008.
Higher Priced Spanish Property in Low Demand on Lanzarote
Tightening global credit conditions and waning consumer confidence are starting to make an impact on the Lanzarote property market according to figures recently released by one of the island’s leading property portals, namely Lanzarote Guidebook.
An analysis of enquiries relating to 636 properties for sale generated during the first two months of 2008 revealed that demand for properties priced above the EUR 300,000 mark had all but disappeared, whilst more modestly priced apartment and studio properties - especially those below EUR 150,000 - were still attracting a large amount of interest from overseas investors. All this suggests that buyers are now concentrating on lower risk and lower cost property options – therefore it’s fair to say that higher priced Spanish property is currently in low demand on Lanzarote.
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.