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 - Pau 8
Spain - Costa Blanca South - Villamartin169.000€
Contemporary apartments provide either 2 or 3 bedroom models. All provide a light and airy living/dining area with a fully fitted open plan kitchen. Ground floor apartments include a private garden area, mid floor and penthouse apartments have a spacious terrace. Situated on a private gated complex with landscaped gardens, there are 2 communal pools - one for children and the other for adults. The apartments are built to an exceptionally high standard including pre installed air...70 2 2
Apartment - New build - Rioja
Spain - Costa Blanca South - Villamartin235.000€
Contemporary apartments for sale in Villamartin provide either 2 or 3 bedroom models. All provide a light and airy living/dining area with a fully fitted open plan kitchen. Ground floor apartments include a private garden area, mid-floor have a spacious terrace, and duplex penthouse apartments have a sunny rooftop solarium. Situated on a private gated complex with landscaped gardens and a communal swimming pool, the apartments are built to an exceptionally high standard...68 2 2
Apartment - New build - Villamartin
Spain - Costa Blanca South - Villamartin165.000€
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 14 m2 and another 21 m2 covered terrace. This residential includes garden, solarium, communal swimming 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...72 2 2
Penthouse - New build - Los Dolses
Spain - Costa Blanca South - Villamartin226.000€
New build penthouse apartment located in Los Dolses, Orihuela Costa. The property has 2 bedrooms, 2 bathrooms, living room, kitchen, terrace of 23 m2 and solarium of 49 m2. This residential includes garden, solarium, community pool and parking. This residential is located near the La Zenia Boulevard Shopping Centre (Orihuela Costa). La Zenia is close to Cabo Roig, Campoamor and Playa Flamenca. It is a growing area, close to all amenities and the famous shopping centre La Zenia...73 2 2
Penthouse - New build - Villamartin
Spain - Costa Blanca South - Villamartin299.000€
Stunning new promotion of apartments in PAU-1, Villamartin. These modern luxury apartments are located across three floors, with ground floor apartments offering a low maintenance garden, mid-floor models offer a spacious balcony terrace, and top floor penthouse apartments boast a balcony terrace and a private rooftop solarium. These spacious properties have a large living room, an ultra-modern open plan American style island kitchen, utility room, and 2 or 3 bedrooms including master...101 3 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...115 186 3 3
Dúplex - New build - Pau 8
Spain - Costa Blanca South - Villamartin279.000€
Contemporary duplex apartments for sale in Villamartin provide 3 double bedrooms. All provide a light and airy living/dining area with a fully fitted open plan kitchen and a 42 m² private solarium. Situated on a private gated complex with landscaped gardens, there are 2 communal swimming pools - one for children and the other for adults. The apartments are built to an exceptionally high standard including pre-installed air conditioning, double glazed windows, built-in wardrobes,...96 3 2
Town house - New build - Pau 26
Spain - Costa Blanca South - Villamartin199.500€
Luxury new build promotion at Pau 26, Villamartin . The townhouses offer 3 bedrooms, 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 extractor fan, oven and dishwasher in the kitchen, as well as a washing machine...100 112 3 3