One of the most important questions we get asked by clients is, “when is a good time to buy property in Spain?”
It doesn’t matter the location or the budget, our answer is always the same.
The best time to buy a property in Spain is wholly based on your personal circumstances and reasons for buying a property. Are you looking to invest in property in Spain, buy a holiday home, or move to Spain permanently and want to buy your forever home in the sun?
Knowing what kind of buyer you are, helps us give you the right facts and information to making purchasing decisions, such as timing, budget, and location.
So, come on. Let’s find out. What kind of purchaser are you? When is a good time to buy property in Spain for you?
If you are buying property in Spain, you may well find that you fit into one or more of the following categories:
The Golden Visa Investor
You are a non-EU citizen, hoping to obtain residency and maybe eventually citizenship in a European country. You have a minimum budget of €500.000 (plus purchase costs) to invest in one or several properties in Spain. Purchase decisions may be influenced either by figures, personal feelings, or a combination of the two.
First steps: As a Golden Visa Investor, contacting a property finder like Move to Malaga should be your first step as soon as you have made the decision to apply for the Spanish Golden Visa. The visa process can only be initiated once a suitable property has been secured. If you are about to start the Golden Visa process, contact us immediately and we can provide you with more details.
You may also be interested in this article: The Spanish Golden Visa: Answers to FAQs
The Buy-to-Let Investor
You are looking for a property that can generate revenue while it appreciates in value over the long term. You are generally looking for a secure long-term investment that will be relatively low maintenance. Purchase decisions are based solely on figures, maintenance costs and forecasted rental income.
First steps: A Buy-to-Let investor benefits from having an agent, or property finder like Move to Malaga on the ground. We source opportunities as soon as they are released onto the market, and often before. It is vital you are correctly informed about forecasted rental income before purchasing property. Buying off-plan or “repo refurb” properties as they become available,( such as these click this link to article), are the best opportunities we have encountered recently.
The Fix-and-Flip Investor
You are a property investor, looking for property that is selling substantially below the market rate. You want a property in need of renovation, which you can restore and sell in a reasonably short period of time for a return on investment. Purchase decisions are based solely on figures.
First steps: If you are a Fix-and-Flip Investor, a suitable property needs to be snapped up as soon as it hits the market. It is advisable to enlist an agent to be on the lookout for bargain properties as soon as they hit the market. Having somebody like us “on the ground” means that you are often able to bag the bargain even before it is advertised.
As a general rule, we do not offer our property finder services to Fix-and-Flip Investors in the Malaga and Costa del Sol region. Due to high property purchase taxes, we do not deem there to be sufficiently profitable properties on the market that would enhance an investment portfolio. We can, however, introduce you to reputable agents with experience in this area.
The Holiday Home Purchaser
You are looking for a home-from-home to enjoy and where you can spend your holidays, at any time of the year. You might be looking for a little hideaway for two, or a spacious villa to enjoy with family, children and grandchildren included.
Your purchase is more likely to be governed by your heart, not your head; particularly if you do not intend to rent out the property when you are not using it. This is not to say however that you intend to pay over the odds for a property.
The Holiday Home with Future Relocation Plans Purchaser
You are planning to relocate in the future, but for the short-term, you wish to use the property as a holiday home. Location is extremely important, based on your relocation needs and security is also a major concern, as you need to be able to lock up and leave the property for long periods. Although you need your head to make sensible decisions, your heart will also have a major influence in your decision making.
The Relocation Purchaser
You are relocating, maybe with your family, and have decided that you do not want to rent initially (although we would try to make you reconsider this). You are in a position where you are financially stable and do not want the upheaval of moving house in the near future. Ideally, in this case, you know the area well and have visited on several occasions.
If you are a Holiday Home Purchaser, Holiday Home with Future Relocation Plans Purchaser or a Relocation Purchaser, we are waiting to hear from you. Our Property Finder Service makes the whole property purchase experience easier and more enjoyable for you. We believe that you know when is a good time to buy property in Spain, for you and we are here to make it happen.
Our purchasers are aware of changes in the interest rates and property market prices. We work closely with a reputable currency transfer company who can advise you and even hold funds until the optimal time to transfer arises.
Our main focus for you, once the time is right, is to ensure you have the best location for your property, especially if you are considering relocation as a future option.
Most purchasers have a pretty clear idea about the location they desire. People have often visited several times on holiday and are familiar with the area they are considering. Some people have no idea where their ideal location may be. We are here to help you, whatever your position.
We have a combined experience of over 35 years in different parts of Spain. We will share our knowledge with you and help you find both the location and the property that you will fall in love with.
So, what are you waiting for?
Sign Up for Your Own Personal Property Finder and let us know what you are looking for.