News: Reasons for buying a property in Spain
Written by Inmo Investments - 6 Aug 2015
After a half a decade of serious financial crisis, Spain is beginning to pull itself out of a financial tailspin. Foreign investors are now sensing the great opportunities present in the current market and are now buying in record numbers with a 12 % increase so far in 2014. Bill Gates himself made the clearest indication of the investment opportunity available in Spanish property by becoming the second largest shareholder in FFC, a Spanish construction company in October 2013. We cannot say fairer than that!
We take a look at the compelling reasons to buy a Spanish property (other than the Spanish sunshine!) and here are the top 5.
1. POSITIVE RESULTS: Property sales have stabilised and rose by 12.1 % during the second quarter of this year (Ministry of Public Works stats). Consumer confidence has returned and people are taking notice that now is a good time to buy. Bank confidence has also returned and the mortgage market is starting to signs of positive reactivation. Mortgage concessions rose by 19% in June and 28% in July (INE stats)
In certain areas prices are starting to stabilise with the results for the second quarter of 2014 which were released by the registrars and the National Statistics Institute which showed increases of 0.97% and 0.8% respectively.
Statistics are showing that the market has now bottomed out and the only way is up!
2. BUYERS MARKET: There are currently still great opportunities for bargain properties and limited numbers of serious buyers and general economic conditions have left some sellers in a weak negotiating position. The current real estate marketplace in Spain offers the savvy real estate investor a substantially higher return rate on his or her investment than in prior years.
2014 is set to be a particularly good year for buyers as new tax laws coming into force from next year mean that, for many property owners, their capital gains tax will increase significantly if they do not sell by the end of this year. This could mean that these sellers, in a rush to get rid of their property and avoid a hefty tax bill, may accept prices below market value.
3. PROPERTY CHOICE : There is still a large amount of unsold stock in Spain meaning a great choice for a potential buyer. Properties of all types and in all locations are currently available from private re-sales, bank repossessions, to the return of the modern new-build developments, particularly in the most popular coastal areas such as the Orihuela Costa
Although unsold stock should remain high for a few years to come in many areas, some of the most popular destinations are seeing their stock rapidly diminish. As the rush for investment increases it is predicted that the 10,000 - 15,000 unsold homes could be sold in less than 2 years!
To be able to take advantage of the bargain prices on quality homes, buyers should act now!
4. LOWER FEES: Due to the drop in prices the fees associated with purchasing a property in Spain have also fallen. Notary and registrar fees, as well as fees for agencies and solicitors have all dropped as they are in most cases linked to the purchase price of a property.
5. BOOMING SECTOR: Tourism figures are rising annually in Spain as more and more tourists flood over to enjoy the countries fantastic tourism and of course sunny climate. From January to August 2014 45.4 million tourists visited Spain which set a new record for the country's tourism industry. Rental properties are booming and providing a great opportunity for many prospective buyers to invest in that perfect rental opportunity.
Villa - Resale - San Miguel
Spain - Costa Blanca South - San Miguel de Salinas499.950€
Simply outstanding and imposing detached villa for sale set on an elevated, prestigious location at Las Communicaciones on the outskirts of the traditional Spanish town of San Miguel de Salinas . The stunning villa boasts an impressive 250m2 of living space and comprises 5 bedrooms, the master suite offering an exceptional size with picture windows on to the sunny terrace and gardens , luxury walk in wardrobe/dressing room and en-suite bathroom with double vanity unit, (1 bedroom is...250 550 5 3
Villa - Bank repossession - Vistabella
Spain - Costa Blanca South - Vistabella232.683€
Detached villa at Vistabella . The villa for sale offers 3 bedrooms, 2 bathrooms, very spacious lounge/dining room, independent kitchen and sizeable garage and underbuild for ample stoage and multiple vehicles, which could be converted into further living space. Great outside space with rooftop solarium, South facing terrace overlooking the private swimming pool and gardens. The property has never been lived in so is in good condition internally, but is in need of maintenance and TLC in...254 110 3 2
Villa - New build - Pilar de la Horadada
Spain - Costa Blanca South - Pilar de la Horadada399.900€
Luxury one level, new build villas in the heart Pilar De La Horadada provide 3 bedrooms and 2 bathrooms. The villas are distributed over one level with a bright and airy living/dining area, a modern fitted kitchen with top of the range white goods. Outside space boasts a spacious garden with private pool and a sunny solarium, perfect for all year round sun. Situated in the heart of Pilar De La Horadada, a nice Spanish town with all amenities on the doorstep and only a stone's throw to the...120 318 3 2
Apartment - New build - Dehesa De Campoamor
Spain - Costa Blanca South - Campoamor96.000€
Modern never been lived in apartments for sale in Campoamor provide 1, 2 or 3 bedroom models. The apartments consist of a light and airy living/dining area and open plan fully fitted kitchen with white goods. Situated in a secure building with a communal swimming pool, tennis court and gardens. Situated only a short walk to the stunning Campoamor beach and and all other neccesary amenities, including the natural parks with pine trees, perfect for picnics. Prices start from €96,000 for 2...49 2 1
Apartment - New build - Punta Prima
Spain - Costa Blanca South - Punta Prima255.000€
Modern promotion of new build apartments situated in the heart of Punta Prima provide 3 bedrooms and 2 bathrooms. A light and airy open plan living space with a fully equipped kitchen and dining area. Outside boasts a sunny private garden, balcony terrace or solarium depending on each floor. Community areas feature 2 communal pools with built in sunbeds and water jets aswell as a kids pool, landscaped gardens featuring a lake with seating area, aswell as a jacuzzi, sauna and gymnasium. All...85 20 3 2
Apartment - Resale - Las Colinas
Spain - Costa Blanca South - Las Colinas425.000€
Luxury apartment for sale at the renowned Las Colinas Golf and Country Club . The apartment offers a ground floor location yet boasts an elevated position offering stunning pool and distant sea views, and has a spacious living area of 116m2 comprising 3 bedrooms, 2 double guest rooms and sizeable master bedroom with ensuite bathroom, further full bathroom, top of the range and unique kitchen, ample lounge/dining room with access to the impressive 82m2 sun terrace allowing panoramic views,...116 238 3 2
Apartment - New build - Cumbres del Sol
Spain - Costa Blanca North - Benitachell168.422€
The Jardines de Montecala complex comprises semi-detached apartments over two levels with terraces and private gardens on the ground floor level and terraces with barbecue on the upper level. A development located within the Cumbre del Sol urbanization, in Benitachell, close to Javea and Moraira, on the Costa Blanca North, Spain, Europe. With access to all communal services, including two large swimming pools with spacious terraces, children?s playground and social club, landscaped areas,...94 2 2
Town house - Resale - San Javier
Spain - Costa Calida - Murcia - San Javier169.995€
Sizeable town house, centrally located in San Javier , Murcia makes for the perfect family home. The impressive South facing property offers an impressive 200m² over 2 floors and comprises 3/4 bedrooms, 2 bathrooms, large lounge with patio windows to the garden/ terrace, dining room, spacious sun room with balcony terrace offering charming views over the surrounding area, and fully fitted open plan kitchen with storage room. Outside space offers ample sun terraces above and on the...200 3 2