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 - New build - Torre de La Horadada
Spain - Costa Blanca South - Pilar de la Horadada302.900€
Ultra-modern, luxury villas for sale built to the highest specifications and beautiful design at Torre de la horadada . Each villa comprises 3 bedrooms, 2 modern bathrooms, a spacious lounge/dining room and an independent kitchen. Outside space offers onsite parking, patio garden with the option to add a private swimming pool available and a spacious upper terrace, perfect for all year round sun. Built to an exceptional standard and offering extras including a video intercom system...108 272 3 2
Town house - Resale - Los Balcones
Spain - Costa Blanca South - Los Balcones104.500€
Sunny, South facing town house for sale at Los Balcones , on the popular Lago Sol community. The property boasts 3 double bedrooms, full bathroom, downstairs WC/cloakroom, lounge, separate kitchen/dining room, fully fitted and equipped including white goods, and large garage/storage room. Outside space offers a balcony terrace, low maintenance patio garden and 12m² private solarium with charming views. Community offers a swimming pool for residents. Sold fully furnished and key...78 120 3 2
Apartment - New build - Doña Pepa
Spain - Costa Blanca South - Ciudad Quesada192.160€
Lovely brand new ground floor apartment in a new luxury residential in Ciudad Quesada. A gated residential with beautiful green areas, communal swimming pools, gym and parking spaces. The apartment features 3 bedrooms, 2 bathrooms, living-dining room, kitchen, 45 m2 private garden and storage room. This apartment has wonderful views of the Natural Park and lagoons. It's located in Doña Pepa, an urbanisation close to all amenities: medical centre, pharmacy, supermarkets, restaurants,...102 3 2
Villa - Resale - San Miguel
Spain - Costa Blanca South - San Miguel de Salinas
Luxury villa with an outstanding 30,000sqm of private land and panoramic views over the salt lakes. This simply spectacular property has to be seen to be believed. The villa itself offers 350m2 of living space and comprises in brief 4 double bedrooms, large master bedroom with 2 dressing rooms and ensuite bathroom, 2 further bathrooms, reception room, spacious lounge/dining room with feature double sided fireplace, study, gym area, large laundry/utility room, beautiful open plan kitchen...350 30.000 4 3
Apartment - Resale - Lomas del Golf
Spain - Costa Blanca South - Villamartin89.995€
Fantastic ground floor apartment overlooking the communal pool in Lomas del Golf, Villamartin.Comprises good size sunny garden,terrace area,lounge with american style kitchen,separate utility room,2 bedrooms,1 family bathroom,rear patio.The property is in good condition and sold furnished.Quiet community with multiple swimming pools, gardens and quiet parking for residents. Less than a 10 minute walk to the Villamartin Plaza which offers amenities including bars, restaurants, supermarkets,...2 1
Villa - New build - Torre de La Horadada
Spain - Costa Blanca South - Pilar de la Horadada410.000€
Luxury new build, detached villas for sale at Pilar De La Horadada . Each property offers 3 bedrooms, 3 bathrooms. spacious lounge/dining room, and a modern open plan kitchen. Outside space includes a landscaped garden with a private swimming pool, a balcony terrace and a rooftop solarium, perfect for all year round sun. Built to an exceptional standard with extras including underfloor heating, pre-installed air conditioning and built-in wardrobes. Situated only 300 m to the sandy...134 195 3 3
Villa - Resale - Altea
Spain - Costa Blanca North - Altea599.000€
Beautiful Ibiza style villa for sale with breathtaking panoramic views up to 15km provides 5 bedrooms, 4 bathrooms and 1 WC. A Manhattan style skyline to the left of the property meets a stunning Spanish landscaped mountain range to the right, 'a uniquely inspirational artistic divide between the transformation of nature and civilisation '. A cosy living area boasts views of the private terrace and pool with the mountains set further back. The villa has a fully fitted, open style kitchen...285 1.300 5 5
Finca - Resale - Pinar de Campoverde
Spain - Costa Blanca South - Pilar de la Horadada1.300.000€
A simply magnificent country house located in Pinar de Campoverde. The villa for sale offers extensive luxury accommodation over three floors, a modern imposing design packed with traditional Spanish character features, and an impressive 737m² of living space. Built in 2006, the property offers a covered terrace leading to a wrought iron gated lobby and a grand entrance hall with flooring laid to red patterned marble. The villa features 6 magnificent bedrooms complete...737 57.000 6 9