One of the main questions we get asked as Spanish Property Finders (apart from how will we be affected by Brexit): Is now the right time to buy in Spain? If you’ve asked us this year, 2017 and moving forward into 2018, the answer is an unequivocal yes – now is the right time to buy a property in Spain.
Market growth in 2017
The Spanish economy has taken a beating in the last 10 years, but it’s now one of the most solid and fastest growing economies in the Eurozone. Unemployment is dropping and tourism is on the up. This all makes for an encouraging improvement in the property market and greater confidence in Spanish real estate, both for national and international buyers.
Property prices are recovering, but they are still below market peak, which means that now really is the time to buy property in Spain, whether a second home, investment or retirement property. Every week you leave the decision, prices will recover and increase.
Tourism makes for a positive investment
For second-home or holiday home purchasers, the strong tourism market in Spain makes the prospect of investment even more appealing – especially on the Spanish Costas, where vacation rentals are as popular during the winter months, as in the summer.
Buying a property which has good rental potential, appeals to a broader mix of buyers who are looking for a strong return on their investment.
Who is investing in Spanish property?
Spain still represents good value for foreign buyers, and a good return on investment can be expected if you purchase intelligently. Using a Property Finder Service like Move to Malaga, can provide you with the knowledge and confidence to buy a good investment property in Spain.
The market saw a 10% drop in British buyers in the first half of 2017. Dutch buyers were up an impressive 58% and Scandinavian and Belgian buyers have also increased. US, Canadian, South African, Australian and Latin American buyers are on the increase, encouraged by the Golden Visa opportunity.
Top purchase locations
The demand for urban resorts has increased in the last year. With buyers opting for cities, such as Malaga, Cadiz, Valencia and Barcelona, where they can enjoy a vibrant city centre, culture and a beach holiday.
The most popular purchase destinations for foreign buyers this year have been:
- Calvia (Mallorca)
The busiest time for property purchase in Spain is Jan-June, after which the market slows down on the run-up to Christmas. If you have returned from your Spanish holiday and are tempted to buy property in Spain, get in contact with our team today for a free consultation.
Don’t miss our next article “Sometimes It’s Better Not To Purchase Property In Spain!”
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