The Inmo Investments perspective on the current Spanish property market

THERE CAN BE NO DOUBT that these are worrying times for millions of people around the world. But with the coronavirus pandemic losing its firm foothold in Spain, fewer people passing away or contracting the disease, and more patients recovering, it does feel like we´ve turned a corner.

This success is a credit to the dedication of our emergency services and medical personnel, and whilst we are by no means "out of the woods", it´s a welcome indication that things might get back to some form of normality at some point soon.

We understand that the majority of prospective Spanish property buyers plan their investment many months or years in advance, so whilst the current pandemic will be a significant cause for concern, it´s unlikely to halt many peoples long-term life ambitions.

The fabulous weather and Mediterranean lifestyle Spain is rightly famous for will still be here long after the disease has retreated, and for most buyers, the hunger and desire to seek a new lifestyle in the sunshine won´t be diminished forever.

So if you have plans to acquire a holiday home, a retirement property, or a property investment here in Spain, why wait? Here are three good reasons why you should be taking action now.

Take advantage of a quieter Spanish property market, it´s unlikely to last

As an estate agent, we usually entertain enquiries from buyers year-round, but once international travel restrictions are lifted and life returns to some form of normality, we expect that market activity will return with some considerable force almost instantly.

Buyers whose property purchases were partially completed or suspended because of the public safety measures will be keen to conclude their purchase, and buyers who were at an advanced stage in the process - possibly even having a specific property in mind, will be anxious to secure their place in the sun.

Taking advantage of a quieter market now and contacting us today is likely to result in a faster and more comprehensive response than simply waiting until the market returns to normality.

Take this additional time to get your finances in order

Northern European sources we´ve spoken with, suggest that they have a pipeline of buyers ready to come over to Spain at a moments notice as soon as travel restrictions are lifted. If you are one of these people then you could very well be competing for the same property with other buyers.

Sellers and agents are significantly more receptive to buyers that have taken the time to organise their mortgage finance upfront and have the required documentation completed. It gives buyers an edge during price negotiations, and the upper hand when it comes to having an offer accepted.

In a property market that´s likely to go from a position of suppressed activity to full-throttle in little more than an instant, buyers arriving in Spain armed with a solid plan to acquire a property will leverage a significant advantage over those that turn up unprepared.

Planning and taking action now will save you potential stress in the future

When you arrive in Spain you´ll need your focus to be solely on your property search, and finding the location of your dreams. Rushing around trying to secure finance to prove to your estate agent or seller that your offer is qualified can be a headache you just don´t need.

The documentation that the banks ask for can be extensive, and of course, if you are already in Spain the whole process can be a logistical nightmare, time-consuming, and difficult to organise while you´re away from home.

Honing a finely crafted buying plan and organising finance ahead of time will save you stress further down the line.

Finally, it has been uplifting to hear that some of our potential buyers have been spending their spare downtime evaluating and reinforcing their plans to buy a home in Spain, and we´re taking time to make sure that our team is prepared to meet our customer´s requirements as soon as the current public safety measures are withdrawn.

So keep your dreams and aspirations alive. There is so much to be positive about and owning a property in sunny Spain still has significant financial and lifestyle benefits.

We´re a valuable source of local information with a team of experienced property professionals at your disposal. Get in touch with us today, and let Inmo Investments help you plan for a brighter (and sunnier) tomorrow. Call +34 966 919 917, WhatsApp +34 667 319 713, email info@inmoinvestments.com, or find us on every social media platform that matters.