There are many reasons why people buy a property in Spain. Many opt to buy a villa or a holiday home which can be rented to other holidaymakers for part of the year. These tend to be situated around the most popular tourist resorts, such as Almeria, the Balearic Islands or the ever-popular Marbella.
Business people often select property in or around one of the major cities. The economies of Madrid, Barcelona and Valencia remain strong. Some people even find it easier and cheaper to live in Spain full-time and commute within Europe for work. Larger cities in Spain also have fast internet connections making remote working AND living the Spanish dream a distinct possibility.
Our Andalucian region is one of the best places to live because of the price of the real estate market and because of the weather you can enjoy all year.
but if you think, Is it a good time to buy property in Spain?
Let’s look at the evidence. Spanish house prices have reduced dramatically and the value of the euro to the pound has dropped significantly too. We’re seeing a reduction in fuel prices, impacting on the cost of air fairs and more and more tourists choosing Spain as their holiday destination. Even the cost of borrowing is down, meaning that if you do need a mortgage in Spain there is a much better chance now than for many years previously.
So, is it a good time to buy property in Spain? The short answer is ‘yes’ and here, in more detail, is why.
Good value property
It’s no secret that house prices in Spain dropped sharply from 2008 onwards. The equation is simple:
Too many houses on the market + not enough buyers = a very good bargain
Although there is more optimism in the sector at the moment, there is still lots of property to shift and people who do want to make their Spanish dream happen are in a very good position to do so.
The trend seems to be for second hand property, although the way that figures are collated here means that brand new, unoccupied houses over two years old are still classed as second hand.
If you have the money to spare there are some very good bargains out there whether you want a property for yourself or to rent. You can expect to find plenty to choose from at significantly marked down prices.
is it a good time to buy property in Spain? Really, we don’t need to convince anyone. The facts speak for themselves. Anyone who has been sitting on the notion of buying their own holiday home or permanent residence in Spain should see that the time is right.
If you have found this article of interest we recommend that you obtain our more comprehensive guide to buying property in Spain which includes information right from first thinking about buying a Spanish property to being ready to move in.