Are you interested in settling down in a country that has been ranked as the best place in Europe? If you answered yes, then you should consider looking at properties in Spain. Investors restrained themselves from investing in Spanish properties, when the economic recession hit the country harshly. Now, Spanish economy is accelerating at a faster rate with 0.6% increase in the national output in the last quarter. The stock of viable properties for sale in Spain is getting smaller and smaller. You should consider investing in Spanish homes now, so that you can retire in peace. This will enable you to enjoy, without worrying about soaring housing prices.
The 2008/09 economic recession has affected property developments, which took years of planning. Investors started to abandon Spanish real estate, as they couldn’t cope up with the loss. To keep the real estate market stable, the inventory was reduced deliberately. When the number of properties reduced, it provided an opportunity for investors to focus their attention. As the country slowly and steadily emerged from downhill towards the road of progress, property transactions increased by 20%.
Despite the amazing growth and rebound from recession, housing prices continue to decline, which makes it easier for buyers. The analysts from Moody’s have commented that housing rates will go downhill at least over the next year in Spain. The 0.8% increase in housing rates proves that the real estate market is highly volatile. This rise in housing price is a welcome change for the Spanish real estate market which suffered 35% decrease in the last six years. Many British expats are grabbing this opportunity to snatch a property in Costa Del Sol, the dream retirement spot. If you buy a property in Costa Del Sol now, you can enjoy great discounts. The warm climate and excellent lifestyle of Spain promises an interesting, peaceful and exciting life if you have a place to live.
If retiring in Spain is not your idea, you should still buy a villa in Costa Del Sol as a vacation home. The demand for a second home is increasing and now is the best time to invest in Spain’s real estate, when the prices are low and the market shows scope for development. The new generation realtor developers offer numerous schemes to encourage expats to buy properties in Spain. Moreover, Spain boasts of the lowest mortgage rate in the world and mortgages have gone up by 29.8%, which implies that people have started showing interest in buying Spanish properties.
To encourage foreign investors, the Spanish government has launched the golden visa scheme. According to this scheme, any expat spending 500,000 Euros on property in Spain will get Spanish residency. Though this residency visa doesn’t offer the right to work in Spain, you can easily make Spain your vacation home. Expats who are looking for a second home should grab this opportunity and buy Spanish homes at a bargain price. With some knowledge about Spain’s real estate, you can buy a property there that will increase in value over due course. For this purpose you can do research on the internet, which has ample information on this topic.