Just in case you are contemplating buying a property in Spain and the fabulous climate and outdoors lifestyle hasn’t quite made your mind up, here are five reasons 2018 is a great time to buy property in Spain.
High quality homes
Buying off plan quite often includes financial incentives and reserving a property in the early stages means you often buy at below market price and can personalize certain aspects of the property.
Buyers entering the market now are finding an amazing number of new projects for sale of a substantially higher quality than in the past. A more sophisticated, experienced and caring developer has arrived. Developers with projects underway are enjoying much more interest from buyers and substantial success in sales as a result. Buyers are finally receiving an increasingly broad choice of top end properties with an incredible range of luxury features, prices and locations.
Improved economic climate
When you invest in a country you need to be sure the economy is improving and the outlook in Spain is looking sunny in more ways than one. As of April 2017, Spain has shown 14 consecutive quarters of growth. The economy has recovered well since the government implemented a series of reforms including overhauling the banking system and reforming the labour market. Growth remains much higher than that in the Eurozone overall, thanks to thriving tourism and exports.
Attractive borrowing rates
Increasing government regulation of financial institutions and more effective regulations on banks and lenders has prompted a culture of financial safe practice. Base rates continue to fall in the Eurozone and currently sit at an all-time low and as a consequence mortgage rates in Spain are now cheaper than ever. In addition, lending by the banks increased by 17% in January 2017 against the previous year demonstrating that Spanish lenders are keen to lend to non-residents and overseas investors.
Increasing property prices
Spanish property sales are rising. After 7 years of falling house prices, the market has now returned to pre-recession levels and banks are predicting record property sales in the coming year. With confidence back in the market and demand steadily growing once again it’s inevitable that prices will increase so it is wise to invest right now.
Great rental income potential
If you are considering renting out your property in Spain, the unique micro-climate pretty much assures you of a return on your investment. The Costa del Sol is back in full popularity offering a charming mix of climate, fun, luxury living and affordability. With more than 80 golf courses in the region that alone draws tourists with short breaks and of course families love the and stunning beaches.
Make 2018 the year you buy in Spain. Talk to one of our multilingual team today to see how we can find the home of your dreams.
If you a yearning for a taste of the Spanish lifestyle why not hop over for a long weekend in Marbella and sample the delights the region has to offer.
Whether you fly in to Malaga or Gibraltar (great for tax free shopping) your trip must include a visit to the Old Town. Marbella’s Old Town is the perfect place to unwind in a beautiful restaurant drinking your favourite tipple. Wandering the streets of this part of town is the antidote to a stressful life. Los Naranjos Plaza is the centre point of where lovely architecture meets a chilled vibe. The buildings are all whitewashed and topped with terracotta roofs, and many date back to the Renaissance. Some are wrapped in bougainvillea; in fact the whole area is bright with flowers.
For a completely different feel wandering the luxury marina of Puerto Banus is a stark contrast where designer boutiques, sports cars and super yachts merge to create a place that draws visitors with its French Riviera feel.
No trip to Marbella would be complete without a trip to one of the 20 beaches that line this stretch of coast. Relax in a beach side chiringuito, wander along the beach or if you enjoy a party there are several lively beach clubs here including Nikki Beach.
If golf is your passion you will be spoilt for choice with no less than 32 golf courses in the region. There are clubs to suit every level as well as some elite clubs too. Just along the coast in Sotogrande you can play at the exclusive Valderrama or catch a game of polo. Head down to the marina for a bite to eat or charter a boat and head out for a little sailing.
There is so much to see and do in this area that living here is a real pleasure. Whatever your passions and pleasures living on this stretch of coastline offers an abundance of things to do that contribute to the Spanish lifestyle everyone loves.
If you are looking for property whether it is a holiday home or you are looking to transition to living here then talk to one of our knowledge team who can work with you to find the property and area best suited for you.
In the second half of last year the British were the number one or two group of second home (non-resident) buyers in nine out of Spain’s autonomous regions.
Even though we have seen less positive exchange rates and a weak pound during the last year the demand for homes in Spain is still high. Investment in property here still looks a very attractive option post referendum and living here it is easy to see why politics doesn’t influence people’s desire for a better life.
There is a fabulous outdoors lifestyle that promotes healthy living, whilst the climate means spending more time walking, cycling or playing golf is easy. The infrastructure of this part of Spain is geared up for year-round enjoyment with fabulous restaurants and nightlife not just seasonal.
After the crash of 2007-2009, British demand began growing again consistently in the first half of 2013, rising from 3,662 in that period to a high of 8,800 in the second half of 2015 (+40%).
Sales growth went slowly in the first half of 2016 (the June referendum took place at the very end of that period), and then plunged 20% between the first and second half of 2016. But in 2017 sales started to recover, and by the second half of 2017 sales were back up by 7.8% compared to the same period the year before.
So, where sales declined and some buyers temporarily lost faith in buying here in Spain, the recovery has been remarkable in that the country has tightened some of its legislation making buying off-plan safer. This is one of the areas we see growth as with building work commencing by reputable developers the range of off-plan property available makes everything from exclusive villas, penthouse apartments and smaller 1 and 2 bed apartments an attractive choice for buying here in Spain.
There was a 13.4% increase as 128,990 Spanish home sales were registered in the Land Register in the first quarter of the year according to the latest property market report released by the Association of Spanish Property Registrars.
This volume of quarterly sales was noted as the highest in the last thirty-eight quarters, and you would have to go back to the third quarter of 2008 to find a larger increase. This shows a real confidence in the sales market even given that property prices across Spain grew by an average of 3.8% in this first quarter according to Tinsa.
Overseas demand hit a high of 16,833 purchases in Q1, which is up by 13.2% compared to the same period last year. Contemporary and stylish off plan developments are being started along the coast line offering everything from exclusive villas to contemporary sea view apartments catering for all taste and budgets. Spanish property is clearly still seen as a good investment by buyers from all over the world, and at the moment is being led by the British.
UK nationals purchased more homes in Spain than any other foreign nationality in Q1 2018, with 2,451 acquisitions in the period, followed by the Germans with 1,316, and the French on 1,290. As a result, the UK’s share of the foreign market was 14%, followed by Germany and France with just above 8% each.
Spain continues to appeal to foreign buyers despite potential hurdles like Brexit, showing that peoples desires to have what they want out of life outweighs what is going on in the world. With property a sound investment, property in Spain offers solid investor appeal as prices continue on an upward spiral and tourism here is ever popular.
This was announced in provincial celebrations in Monda by the president of the Malaga provincial government. The well-known and breathtaking natural attraction in El Chorro near Ardales currently covers seven kilometres, including the “daredevil” gorge side path as well as the surrounding woodland.
The proposed extension estimated to be between 5.5 and seven kilometres long, will turn the walk into a circular route so it starts and finishes at the same point. At the moment, the current route is linear and one-way, so transport is required to get back to the starting point.
This tourist attraction is a real draw into the area with higher visitor numbers each year for those who love thrills and nature. Just one of the many reasons to visit Spain and come a little inland to discover some of the countries real treasures.
The Caminito Del Rey (or “King’s Pathway”) was originally built in 1901 as part of king Alfonso XIII’s ambitious hydroelectric energy project to unify three rivers. It was re-opened after refurbishment in 2015 and the new path is genuinely like few other places on earth. At its highest, it’s the closest you can come to feeling like an action hero.
The provincial authority recently met with the regional minister for the Environment, José Fiscal, and the local councils involved (Álora, Ardales, Valle de Abdalajís, Antequera, Pizarra and Campillos) to get the project off the ground.
It was explained that the new section of the route would include more raised walkways around the mountainside and take visitors through beautiful natural spaces that are not normally accessible to walkers.
There was no fixed timeline given and the project will be carried out as soon as possible, although it was pointed out that the new section would not be as complex as the first one to build.
If this is something you’d like to experience, booking in advance is required as only 600 walkers, all wearing hard hats, are allowed up on any one day.