Many experts believe that 2018 is the perfect year to buy property in Spain. According to a number of property surveys recently conducted the time has never been better to buy a property in Spain. This means that your dream home in the sun could be within arm’s reach. There are very few places on earth that can beat the absolute natural beauty of Spain. Here are four reason why now is the best time to buy property in Spain.
Improved quality and professionalism
There are higher quality projects and houses on sale now than there ever was before. Buyers are finding the process of buying a property more sophisticated overall. This will take many back to the days before the property market crashed. New developers are keen to give excellent value for money to their purchasers. Today they also invest more time and effort into producing properties of a superior quality. This is proving to offer great rewards for not only the buyer but also the developer. In addition, the developer is getting much more interest and success in selling their properties. The newly built properties are more focused on quality and quantity.
The property market in Spain is no longer as fragile as it was after the market crash. There has also been an increase in government regulation for financial institutions. This also means that there is not better regulation of all financial products in Spain. As an added bonus the mortgage rates are cheaper than they’ve ever been. More financial stability in the country also means that you are more likely to make a profit should you one day choose to sell your newly acquired property.
Property Prices Increasing
Much like the economy, Spanish property sales are on the rise. 7 years of falling house prices have resulted in the market now returning to pre-recession levels. In addition, local Spanish banks are predicting record property sales in the coming year. With confidence back in the market and demand steadily growing once again it’s inevitable that prices will increase. Having said this it is important to note that current prices are still far from their 2006 peak. But, sales volumes are back to pre-crisis levels.
Rental Income Potential
A recently survey detailed the findings that all forms of accommodation are on the rise. One of the most important of these is the holiday apartments market. With more than a 20 percent increase in the market, you are more likely now to make money from your property than you were two years ago. The direct impact of this is that more tourists are looking for holiday places to rent. This also means that the cheap beachside property you are thinking of buying has the potential to earn you a lucrative income. This type of stability makes buying a property in Spain in 2018 irresistible