Is it a good time to buy property in Spain?
The North Costa Blanca has always been a popular destination for holiday makers and those seeking a second home but is it a good time to buy in Spain?
The area includes the Marina Alta areas of Denia, Moraira, Javea, Calpe, Altea and the inland areas of the Orba and Jalon valleys.
While the tourism industry in Spain has always been constant the housing market has been rather a different story. Around the turn of the millennium there was an extraordinary increase in foreign buyers wanting to buy property here in Spain sending house prices “through the roof” and inevitably there followed a housing market crash which also badly affected the construction industry.
Thankfully this is now behind us and the housing market is now seeing a revival. With a marked increase in house sales in 2015 and a renewed interest in mortgages from the Spanish banks we can look forward to an even better year in 2016.
So, is it a good time to buy a property in Spain? In particular the North Costa Blanca?
If you have the money to invest there have been and still are some great bargains to be had. For example right here in my home town of Jalon there are several blocks of luxury apartments and duplexes that were repossessed during Spain’s “crisis” and are now half price. Beautifully appointed apartments priced at 120,000€ are now selling for just over 60,000€! They are now, of course, selling like “hot cakes” but the buyer in a position to proceed immediately can still bag himself a bargain.
We are now seeing a large number of Dutch, Belgian, French and German buyers eager to invest in the area. Good news spreads fast!
The Euro has been unpredictable but this has often worked in the buyers favour. If you are shrewd and buy when the time is right you can save a small fortune. For more information go to Currencies Direct for update news. We know using a currency broker can be of real benefit for all parties.
The price of fuel has dropped. This has resulted in an increase in people driving to Spain instead of flying making the Spanish holiday home more accessible. With subsequent cheaper flights available for those who want a shorter journey to our local airports of Alicante and Valencia.
The renewed confidence from the banks means that those wishing to live in Spain are finding it easier to get mortgages and loans. Spanish banks are very keen to encourage foreign investment here in Valencia.
The investment is not just a financial one. People are becoming more and more aware of the health implications connected to the environment in which we live. The Jalon Valley famously has one of the best “micro climates” in the world. I often hear stories from some of our senior residents here in the Jalon Valley of remarkable improvements in conditions like asthma and arthritis. Surely the most important part of your life investment should be in your continued good health?
People across Europe are seizing the opportunity to buy a second home or permanent resident at the best price they can get. They are buying because Spain offers an alternative lifestyle, a Mediterranean lifestyle where we enjoy the all year round climate and a healthy lifestyle.
Are you convinced?
Come and talk to us for more information to help you decide on how to achieve your dream Spanish lifestyle.