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Investing in Spain
Ultimate Homes and Finance run through the key facts and provide general information on investing in Spain, keeping you informed every step of the way.
Investing in Spain
The beauty, climate, lifestyle and ever improving infrastructure of the Spanish coast has created an unprecedented demand for homes, not only from residents of Northern Europe, but from all over the world. Many of our clients are looking for a home or holiday property that will also serve as a good investment - that in turn should not mean outright speculation.
The last decade has shown that Spanish property has been a fantastic investment with year after year of consecutive price rises of upto 20% or more. Of course, this sustained growth cannot go on forever and realistically, the capacity to absorb such large property price rises has probably been used up. It is reasonable though to expect that real values will continue to increase over the long term, whilst at the same time providing owners with added benefits, such as a home / holiday home that they can live in and enjoy.
In the short term, some of the most popular coastal areas which have suffered from an over-supply of property have entered a downturn. Indeed many speculative investors are seeing prices stagnate or decline which explains why there are now too many properties chasing too few buyers.
Therefore it is more important than ever to get your choice of property / development right. A successful purchase can still be very rewarding financially and of course in terms of quality of life. A poor choice can turn your dream into a nightmare. In our opinion there are several outstanding, quality developments, and they deserve your consideration if you are thinking of buying a property in Spain.
Surveys in the UK still show that Spain is the most popular destination for the thousands of people who move away from the United Kingdom each year. Recent forecasts state that "an estimated 800,000 European families will buy a home in Spain over the next 5 years; some analysts are predicting as many as 2 million".
Why Spain?
Spain is still one of the cheapest countries in Europe with an extremely high living standard. Everything is organized as it is at home; infrastructure is constantly being improved, with running water, and electricity readily available. On top of this, it is just a 3 hour flight or less, to every major city in Europe from Alicante Airport.
Residents of most European countries are better off in Spain.
The cosmopolitan ambience of the region, the local microclimate, and the unmatched cultural and sporting facilities throughout the area continue to attract discerning visitors throughout the year. Most prefer the freedom of a private rental to the rigidity of the big hotels.
Golf and all its related activities has become a multi-billion pound industry throughout the region. Visitors to the huge number of golf courses are fuelling demand for private rental properties, particularly on or near the courses.
Finally the ever-growing commercial infrastructure of the coast and the major cities of Alicante, Valencia and Murcia are attracting Spanish and European middle management and young professionals who frequently require a medium to long-term rental quite often paid for by their employer.
In short, there are still many reasons why Spain will remain a good investment in the long term, including the possibility of enjoying a cool drink on a terrace in the sun, whilst northern Europeans freeze!
