Property purchases by international investors increased during the first quarter of 2019 (Jan-Mar 2019) despite Brexit being on the horizon according to data on property portal Kyero. This represents an increase of 0.53% annually and an increase of 0.57% quarterly.
In Andalucia 16.10% of buyers were international with 4,380 transactions in Q1 2019. For our region the number of transactions were down by 0.16% but it was still the considerably largest region for purchases.
Nationally sales prices including new properties and resales saw an annual increase of 6.75% and a quarterly change of 1.49%. This shows the market is slowly but steadily climbing again despite political activity in Europe.
It certainly shows people’s hopes and dreams of owning a property here in Spain have not dampened and it is easy to see why. The value of what you can buy for your money here in Andalucia is still excellent. Buying off plan property offers buyers lower purchase prices in some developments which offers an excellent return on investment. Here are a selection of off-plan properties to browse.
The number of new mortgages and loans on property in Andalucia for May 2019 was 9,285, this is an annual change of +15.92% and a monthly change of +15.99%. The new legislation on mortgages that came into effect in June 2019 makes the whole application process more transparent and akin to getting a British mortgage. The acceptance criteria are based around the clients’ affordability.
Tourism is still booming here and the level of resorts people want to holiday in across Andalucia means owning a holiday rental here still pays dividends. With beautiful weather, superb golf courses and stunning beaches Spain is still the favourite of a seasoned traveller.
If you are thinking of buying property in Spain, there has never been a better time. If you have concerns over Brexit and what that will mean, remember we have been selling property to non EU nationals such as Swiss, Americans, Chinese, UAE residents and Russians for many years. Talk to one of our property specialists today who can help you find your perfect property.