Unless there is something very different about us as a company, it’s clear that the number of people looking to buy a property in Spain are few and far between.
The Spanish Property Market has been in big trouble for while and just as it was showing some little green shoots of recovery a few American Bankers ran off the worlds supply of mortgage finance and dumped it back on its bottie.
This week GMTV have been featuring Spanish Property and we have some of the properties featured on our books which led me to have look at the properties we have for sale in Spain and wonder what the future holds for this much maligned property market. GMTV Properties
The first thing that struck me was that some of the realistically priced property is looking great value for money, check out the development at Al Andalus added to which the weather there this week is a very pleasant 29C and sunny (for those of you not old enough to remember the sun it’s an orange disk in the sky whose rays make you feel good), the cost of living even after taking the stronger Euro into account is very competitive, with the quality of life in the UK at what seems like an all time low, is Spain about to make a comeback.
Spain has always been a popular destination for retirees, the Costa Blanca in particular, and given that the current round of energy price hikes will bite a cold and miserable winter country like the UK particularly hard, I can see a rise in enquiries from ABH’s (anywhere but here’s) and Spain’s warm winters and therefore low energy bills combining to bring this destination back onto the radar of people looking for a good value property destination to retire too.
Logically, there are number of factors that are making Spain worth a closer look;
• The Spanish Banks are lending money
• There is a wide choice of discounted property on the market, making 85% LTV’s achievable
• Mortgage rates are low
• Providing you stick to the rules, it is a very safe place to buy
• The cost of living is two thirds that of the UK
• Spain is famous for it laid back and stress free culture
• Spain has an excellent Health System
• 320 days of sunshine
• Plenty of cheap flights, and you drive back if you need to
• No need for central heating!
Are we at the bottom of the Spanish Property Market? I don’t know but my instinct says we can’t be far away from an up turn in its fortune.
View property for sale in Spain
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