Spanish Property

There has been a lot of negative media coverage over Spanish property market recently, especially in 2008, that made Europeans (including British public) think twice before investing into a home / holiday home there. In spite of that Spain stays still at position number one amongst the Europeans and Britons for buying a property abroad.

The slow down of the boom on the market doesn’t turn away the investors, as it was expected. Property buyers still prevail to make profit from buying in Spain, not as much as before though. But than the sun factor comes into power. Most of the people, who buy in Spain, do it for the reason of having a better quality of life in the sun, which this country provides in plentitude and which surely will hardly stop from happening in the near future.

 Some people are emphasizing saying that buying on the Spanish property market isn’t only a question of making money, it is the question of pure satisfaction of living and using your property whilst making money on it as well, in other words it is the “usability” factor that attracts the new investors to Spain most. It comes to no surprise to see that vast majority of the people now consider Spanish property to be a “usable” investment rather than a financial one. Do not forget the increasing number of low-cost airlines, that make Spain a destination even more desirable and easy accessible.

There always will be other property markets- booming or collapsing, but Spanish market at all times has been distinctive in terms of the way people look at it. Just think of it: over half of the second homes abroad are located in Spain and France. Do you think that, such considerable amount of people moved to Spain just to make themselves incredibly rich?...

Now then, buying abroad is a big step and could be quite risky, and nobody wants to put their hard earned savings in jeopardy by purchasing something that doesn’t have proper planning license or could fall in value, etc. Here are some guide lines for those, who are looking to make a purchase safely and make sure their investment is sound.

Research well before committing to something. Do your homework. Researching and making enquiries will help you to avoid the mistakes like looking in the overdeveloped areas, for example. There are plenty opportunities to find something to your liking, reasonable and feasible, meeting your needs and reflecting the country you are moving to at its best. Do not limit yourself with the choice given by the estate agent, explore yourself. Make sure you understand what you are buying and where you are buying.

Trace records. Are you sure that the agency you are using is reliable? Use a company with good reputation and experience, which can give you legal and financial advice, help you through the whole process of buying of your property.

Check for guarantees. Check the developers guarantees (that the property has a structural guarantee, correct building license, etc.)

Talk to other buyers. It is always a big advantage to talk to somebody who already bought a Spanish property on the same development´/ area, from the same development company / estate agent. Talking to the existing customers will broaden your horizons and will help you to learn from the experiences of the others avoiding the mistakes they have made and follow in the right directions.

Spanish Property