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.
Quad House - Resale - Los Altos
Spain - Costa Blanca South - Los Altos131.000€
Spacious quad villa for sale at Dream Hills in Los Altos . The South facing property offers 100m2 of living space and comprises 3-4 bedrooms , 3 bathrooms, hobby room (additional bedroom) lounge/dining room, separate kitchen and conservatory style sun terrace. Outside space offers established garden with rockeries and plants, large terrace for al fresco dining and pergola, private and secure onsite parking and rooftop solarium for year round sun and salt lake views . Sold part furnished...100 3 3
Detached Villa - Resale - Ciudad Quesada
Spain - Costa Blanca South - Ciudad Quesada300.000€
This superb, large family accommodation is presented for sale in excellent condition and has been maintained to an exceptional standard. This classic style property offers a spacious 4 bedroom, 2 bathroom, living area distributed over two floors with an added bonus of a very large under-build area and garage.The property is situated on a 500m2 plot with excellent outdoor potential including open terrace seating areas, covered terraces, gardens and private swimming pool. There is ample space...176 500 4 2
Town house - Resale - Lomas de Don Juan
Spain - Costa Blanca South - Campoamor214.950€
Well maintained villa for sale situated in the Las Ocas area of Lomas de Cabo Roig and Campoamor. The villa has been lovingly updated to a fantastic family home and comprieses 3 double bedroom, 2 bathrooms ample lounge/dining room and kitchen.. Sold fully furnished with many, many extras and home comforts including solar water heating, new galvanised gates on entry to villa and also to the large car port, 6 berth jacuzzi with all mod cons, garden water fountain, full garden irrigation...118 230 3 2
Town house - Resale - Los Altos
Spain - Costa Blanca South - Los Altos165.000€
South facing town house for sale situated in Los Altos . The property comprises on the ground floor independent kitchen with a rear terrace, front porch and terrace that lead into the cosyl iving room, plus bathroom. The first floor comprises of two bedrooms and a bathroom. One of the bedrooms has a south facing balcony with sea views. On the lower level there is the third bedroom and a bathroom and the garage which is currently used partly as a fourth bedroom.This property is only a few...3 3
Bungalow - New build - Benijofar
Spain - Costa Blanca South - Benijofar171.000€
Stunning new promotion of new build bungalow apartments at Benijofar . Each property offers 3 bedrooms, 2 bathrooms, open plan living/dining and modern kitchen, terrace and either a private 26m2 garden or balcony and spacious solarium dependent on model. The complex is situated close to local amenities with bars, restaurants and supermarkets. Community with pool for adults and children with jacuzzi, manicured gardens, recreational area and children's playground. Quality construction and...85 26 3 2
Town house - Resale - Blue Lagoon
Spain - Costa Blanca South - Villamartin79.995€
Fantastic townhouse with sunny garden located in the quiet area of Blue Lagoon.Comprises sunny garden area,glazed in terrace/breakfast room,lounge with open plan kitchen,1 bedroom and 1 bathroom,storage room,gas central heating,upstairs is a south facing terrace,lounge/bedroom,1 bathroom.The property is in good condition and sold furnished.2 2
Detached Villa - Resale - Ciudad Quesada
Spain - Costa Blanca South - Ciudad Quesada599.000€
Stunning detached villa sitting on a large 800 sqm plot with amazing views overlooking the golf course and out towards the sea.The villa is split over two levels with two different accommodations, with separate accesses. Entrance into the main house is through a lovely glazed in terrace, with windows that fold right back so it can be an open terrace in the summer. The terrace has a dining table, a small drinks fridge, and also a lovely area for sitting and relaxing looking out over the golf...224 800 5 4
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