News: Irish property investors should look to Spain for the future
Written by Inmo Investments - 22 Jan 2018
Where is the best place to buy overseas property in 2018?
The recovery in the Irish property market is nothing less than a miracle.
Spain, the global financial crisis hit Ireland hard in 2007. In previous years government tax incentives were a key driver of property prices forcing residential property values to simply unsustainable levels.
The global recession changed all that, and by mid-2009 it was reported that Irish property nationwide had lost 40% of the value accumulated during the new millenium, forcing thousands of families into negative equity.
Things have changed for the better, and house values in the Emerald Isle recovered at a faster pace than
Spanish property prices.
So much so, that in the last financial year Ireland boasted the sixth-fastest growing property market worldwide according the The Global Property Guide, only trailing countries like Iceland and Canada.
But just last week one of Ireland's leading news outlets The Irish Times, reported that while prices are expected to continue to rise through 2018, market analysts are forecasting a decline in the pace of any future increases.
The news comes amid a shrinking mortgage market and following the introduction of strict new lending rules that came in to force at the beginning of 2018.
Think Spain: Spanish property prices still offer good value
The recovery from the recession may have come to the
Spanish property market somewhat later, but predictions for 2018 are positive, with expected property sales and prices both expected to show healthy increases over the next year.
Today, the market stands on the foundations of several years of incrimental price rises and sustained stability, governed by restrained, sensible lending practices.
With a property market in Ireland that shows potential for levelling out mid-term, Spain might be a lucrative choice for savvy Irish overseas property investors looking for an alternative long term investment option.
Property in Spain is comparatively cheaper than most common Mediterranean destinations, and despite the recent rises in property values Spanish properties still offer excellent value in addition to the potential financial benefits associated with property investment.
It is still possible to purchase a modest apartment in Spain for less than 50.000€, and there are still a few bargain new build buys too, with prices starting at around 110.000€.
For those with a more generous budget a villa in Spain might not be out of reach. This detached villa in Algorfa boasts 3 bedrooms, 2 bathrooms and a community pool yet it´s currently on the market for just 114.950€.
By comparison, second homes in France are often considerably more expensive, and even the more prestigious locations on the French Riviera to the south of the country simply cannot offer the same mild winters, long summers, low rainfall, or daily hours of sunshine that the
Costa Blanca enjoys every year.
The Costa Blanca: unbeatable ease of access from Ireland
Additionally, ease of accessability for Irish holiday home owners simply can't be matched, with Ryanair offering low cost direct flights from Dublin to Alicante International Airport year round.
Furthermore, Ireland´s flag carrier Aer Lingus, operates year round scheduled flights between Dublin and Alicante airport with a summer service from Cork that begins in May each year.
In just a single day it´s easy to enjoy lunch in Ireland, travel to Spain, and book a table for dinner at a fine-dining restaurant beside the golden shores of the Mediterranean Sea.
Costa Blanca property is a shrewd investment offering potential financial advantages to Irish buyers, with excellent immediate and long term prospects in a rising property market.
It just also happens to be a secure bricks-and-mortar asset that can be enjoyed all year round for years to come.
Start your search for your perfect investment property and holiday home now, click here to browse through our portfolio of high quality property for sale in Spain, or click here to download our latest property magazine.
FURTHER READING ...
> New build property guarantees and home warranties in Spain
> Spanish property sales and prices forecast to continue growth in 2018
> Alicante Province records 12.5% increase in property sales
Please note: Inmo Investments is a registered Real Estate agency in Spain. We are not legally qualified solicitors, nor are we qualified to provide legal or financial advice, and this editorial publication is provided for information only based on existing publicly available information. We have taken every reasonable precaution to ensure the accuracy of the information, and the authority of the sources of information at the date of publication.
Apartment - New build - Villamartin
Spain - Costa Blanca South - Villamartin214.900€
New promotion of ultra-modern luxury apartments for sale in Villamartin. Each home provides a choice of 2 or 3 bedroom models, all with2 bathrooms, open plan living/dining area and a contemporary fitted kitchen. All apartments offer terraces, with ground floor models boasting a private garden and top floor models offering a spacious solarium with stunning views. Located within a private residential community with manicured gardens, sauna, gym, underground parking, and 2 large swimming...83 2 2
Apartment - New build - Villamartin
Spain - Costa Blanca South - Villamartin162.000€
Stunning new build promotion of apartments located close to La Zenia, Orihuela Costa. The apartments offer 2 bedrooms, 2 bathrooms, lounge, kitchen and 2 terraces, an outdoor terrace of 14m 2 and another 21m 2 covered terrace. This residential includes garden, solarium, communal pool and parking.This residential is located near the Centro Comercial La Zenia Boulevard (Orihuela Costa). Nearby Playa Flamenca and Cabo Roig, Campoamor, La Zenia. It's a growing area, close to all amenities and...72 2 2
Apartment - New build - Las Filipinas
Spain - Costa Blanca South - Villamartin135.500€
Promotion of simply stunning new build apartments for sale at Bosque de las Lomas, Las Filipinas, a popular suburb of Villamartin and located just a 5 minute drive to the Villamartin Golf course and Plaza. The complex boasts 1, 2 or 3 bedroom, with the choice of 1 or 2 bathroom apartments all with terrace (garden for ground floor models) and solarium for penthouses, spacious lounge/dining area and ultra modern fitted kitchens complete with white goods. Extras include air conditioning,...60 2 1
Villa - New build - Las Filipinas
Spain - Costa Blanca South - Villamartin355.000€
New promotion of 4 stunning detached villas for sale in Villamartin , all providing 3 double bedrooms and 3 bathrooms. A modern living/dining area and open plan kitchen built to an exceptionally high standard. Outside space boasts a large garden with a private swimming pool and terrace, a balcony terrace leading off the master bedroom, and upstairs provides a private solarium, perfect for all year round sun. Villas with larger plots also include an underbuild. Situated close to several...119 162 3 3
Town house - New build - Lomas del Golf
Spain - Costa Blanca South - Villamartin210.000€
A select development of just 43 luxury town houses for sale at Villamartin. Each home provides a choice of 2 or 3 double bedrooms, and 3 bathrooms (2 en-suite). Spacious properties with natural light throughout and built to a high standard with top-quality fixtures and fittings. Outside space boasts a low maintenance front garden with onsite parking and a storage room with the option to add a private pool, a private rear courtyard, a balcony leading off the master suite, and a rooftop...139 99 3 3
Apartment - New build - Villamartin
Spain - Costa Blanca South - Villamartin139.000€
Built to an exceptionally high standard, these apartments in Villamartin provide 2 bedrooms and 2 bathrooms, open plan living/dining area and an open plan kitchen. Outside space provides a private garden for ground floor models, mid floor models provide a sunny terrace and penthouse apartments include a private solarium, perfect for all year round sun. The complex boasts landscaped gardens, 3 communal swimming pools, padel court and children's playground. Extras included with each...73 2 2
Town house - New build - Rioja
Spain - Costa Blanca South - Villamartin345.000€
Stunning new build complex of 5 luxury town houses for sale in Villamartin . All provide 3 double bedrooms and 3 bathrooms (2 en suite). Spacious properties with natural light throughout and all built to a high standard with top quality finishes. Outside space boasts a low maintenance front garden with onsite parking, a private back garden with jacuzzi, and a balcony terrace leading off the master suite. A spacious communal swimming pool is also available. The properties are sold with...115 186 3 3
- New build - Pau 26
Spain - Costa Blanca South - Villamartin228.660€
Luxury new build promotion at Pau 26, Villamartin . The townhouses offer either 2 or 3 bedroom models, spacious lounge/dining area and a fully equipped, open plan kitchen. Outside space boasts a Mediterranean style garden with artificial grass with the option to include a private pool, balcony terrace and a sunny solarium. Built to an exceptionally high standard with quality materials and design. The properties are sold with white goods, extractor fan, oven and dishwasher in the kitchen,...88 2 3