Is Now The Time To Buy a Home Abroad?

Strong Sterling Shakes Up Property Market

It’s a shake-up of epic proportions, yet it was predicted only last year. The dynamics of the property market have changed, and the situation is perfect for a solid property investment on the Costa del Sol. Buying property on the Costa del Sol, and even taking a leap and buying property in Marbella can land you an incredible opportunity. Thanks to a strong pound there is a significant surge of property interest in the Eurozone, particularly Spain.

Your holiday home in Spain is waiting

Here’s the short answer to the question “is now the time to buy a home abroad?”

Yes.

In November 2014, investment banking giant Goldman Sachs stated that the sterling would continue to gain strength, and by 2017 could reach highs of €1.54 to the pound. This is at a level we haven’t seen since the year 2000. This means the euro was worth 65p compared to just over 79p. Goldman Sachs also stated at that rate British second-home seekers would once more be flocking to snap up cheap properties in France, Italy and Spain.

Looking back at the sterling strength since the beginning of the year and the pound goes five per cent further in Spain. To say the strong sterling in Spain is making waves wouldn’t even do it justice. The fact of the matter is we are once again facing a time and opportunity to invest in a highly sought after area. Property in Marbella and property throughout the whole of the Costa del Sol, made a dramatic plunge as most know when the crisis hit. This caused a surge of foreign buyers to pick up all the slack and take full advantage of falling property prices.

However, no matter how strong the pound might be and no matter how long you think it will last, unfortunately property is only available for so long. Prime property in Marbella or on the Golden Mile are likely to be snatched up a lot quicker than in other areas. For now, and only recently, we’ve seen so many prime villas for sale even beach front villas sold at an incredible deal. The supply of prime pieces of real estate in Marbella offered at incredible reduced prices is almost at an end. We can honestly say that now is the time, and now has to be the time to buy property on the Costa del Sol.

Spain is and always will be a top destination

British property buyers have a special relationship with Spain, and particularly the southern Spain in Málaga province. With an almost perfect climate, breathtaking views, and plenty of land throughout; the Costa del Sol will always have a special place in their hearts. Each year the number of expats grows; however, many have been taking advantage of the vastly reduced rental rates. Today things are changing quickly, and property for sale is at a peak.

Looking at the dollar, since the middle of 2014, it too has expanded in strength next to almost every other currency apart from the pound. This spurred major interest in large-scale investment by American private equity funds, which was particularly focused on Spain’s prime commercial and residential real estate markets in Madrid and Barcelona.

In real terms, the Spanish property market still remains at a record low. However, we’ve seen some spurts of growth in prices in prime markets, which includes Marbella and Madrid. As you can see from the recent reports of good news, chased up with even more fabulous statistics, stating the obvious doesn’t seem necessary anymore.

Now really is the time to buy property in Marbella.