Investment Property in Spain
Thinking of investing in a property in Spain? This informative article will help you to understand the property market in Spain as well as giving you an insight into the purchasing process to buying a property in Spain.
Althought this year (2007) has seen a general slowdown in the overseas property market and especially within the Spanish property sector it still seems that Spain accounts for almost half of the property searches conducted on most of the popular property portals including Property Abroad.com. With an ever increasing number of visitors and second-home investors from all around the world looking at the Spanish property market Spain will never fall out of the popularity charts.
The country has always attracted millions of visitors every year due to its inviting climate and year round sunshine. Spain has some picturesque locales that have lured visitors to explore more of the country on every visit. Additionally, the country has a rich culture and tradition, which is uniquely popular around the globe. Resultantly, a constantly rising demand for every kind of investment property in Spain is evident!
Spain an Investment Opportunity
Spain has been offering excellent property investments opportunities for over 3 decades with foreign investors, particularly the British, finding the Spanish property market immensely lucrative from the investment point of view. Spain is a popular second home destination among Europeans and if you are conversant in Spanish, there is really no better place to invest your hard-earned cash than Spain. You'll experience some of the best facilities and high standards of living in Spain, which is animportant factor as far as second home buyers are concerned. An estimated half million Europeans have already bought a property in Spain over the past 5 years!
The country's varied geographical regions have played a quintessential role in determining the future of investment property in Spain. The southern part of the country including the Costas has a vast coastline that offers some of the best beaches in the Mediterranean. The region is particularly acknowledged for its year round sunshine, which has always proved a magnetic for the British.
The snow-capped Pyrenees has been another attraction for visitors keen on the skiing opportunities on offer in Spain. The region bordering Spain and France is a visual delight with rivers, mountains, water-features and forests occupying the attention of onlookers.
Spanish cultural heritage is apparent from its famous food, opera, literature, and Spanish architecture? Spain is well connected with regular cheap flights to and from the country and to and from prominent cities around the world, this makes Spain easy to reach, affordable and quite different from its neighbouring countries.
Spain is also one of the relatively less expensive countries of Europe. This makes the world-class living and working conditions of Spain even more lucrative for anyone looking to relocate to Spain.
Post-1975, Spain has been a successful and thriving democracy with a stable government at the helm, which is committed to attracting all kinds of investments - foreign and domestic - within the country. The plan is to build a culturally rich Spain with a modernistic outlook.
All this makes Spain a perfect spot for a holiday property investment as well as a second home destination.
Types of Investment Property iIn SpainSpain offers a range of properties, including farmhouses, fincas, traditional houses, mansions, apartments, beachfront properties, villas and golf properties in Spain. The best part is that currently, the real estate market is in a twilight stage, where the prices are neither too low nor too high. An astute investor can easily strike a handsome bargain in Spanish property. According to rough estimates, the average price per square metre in Spain is still about 20-50% below the UK.
Besides the regular constructions, it's the resort properties that are currently occupying the top of the charts as far as the Spanish real estate sector is concerned. The Polaris World Golf Resorts are, particularly, among the top-notch choices for domestic and overseas investors. You can lay your hands on a Polaris World Golf Suite for as little as £57K.
Obviously, you have to spend a larger sum if your requirements are for a bigger property. For instance, apartments in the golf resort of Desert Springs in Almeria commands a £103K+ price range. Similarly, apartments on the Costa del Sol can fetch upwards of £150K.
The hottest places to invest in Spain include Costa del Sol, Costa Blanca, Costa Brava, Majorca - or Mallorca as its spelled Menorca, Tenerife, Andalucia, Costa Tropical, and the Murcia region (including the Mar Menor lagoon, the Costa Calida and Murcia city).
If you are put off by commanding prices of expensive Spanish property, there is a mortgage option available too. You can easily approach one of the over two hundred local banks that offer different loan options and available mortgage loans to the tune of 70% of the property value under Spanish laws subject to the fulfilment of certain terms and conditions. Barclays Bank in the UK also offer mortgages for property in Spain - see our mortgage page for further details and free information pack on getting mortgages in Spain.
Don't forget to hire a local solicitor or lawyer or a good real estate agent in Spain order to facilitate the smooth property transfer transaction. Since Spanish is the main language in the country, you may find yourself at a loss trying to decipher the official rigmarole. Therefore, it is always considered vital to hire a local aide in a country where English is a second or third language.
In addition to offering property for sale in different locations in Spain we also have at your disposal a list of other useful tools to help in your decision making when considering buying a property in Spain :
Buyers Guide to Spain - A useful article on the buying process when buying a property in Spain
German Country Guide - A detailed guide to Spain including information on health, economy, business, travel, things to do, excursions and much more
Locations in Spain - A current list of locations that have property for sale in Spain
Airports in Spain - A guide to the main airports in Spain, where they are and how to get there
Attractions in Spain - A list of popular tourist attractions in Spain
Estate Agents in Spain - a directory of estate agents in Spain and a list of real estate agents selling property in Spain
News Articles on Spain - A useful resource for learning about the country, what's happening and useful information on Spain
Useful Resources - a list of useful resources that you might find of general use
Source: Free Articles from ArticlesFactory.com
ABOUT THE AUTHOR
Property Abroad's directory Les Calvert writes interesting and useful articles on all subjects dealing with overseas property investment and buying property in Spain. With over 400 company websites selling and renting property in almost every country around the world Les is well placed too ffer advice on existing and emerging property locations. Visit their flagship site for more details on property for sale in Spain.