Property in Spain – find your own place in the sun
Real estate in Spain is still one of the most attractive EU markets. During the crisis period property prices have reached its bottom. Today market is recovering, being driven by overseas buyers, attracted by mild climate, sunny beaches and low prices. Foreigners are pretty welcome there and cooperating with sophisticated agents, you’ll make your transaction smoothly.
Property in Spain offers investment opportunities
Many international investors are attracted by so called “golden visa scheme”, granting the EU residence to those who invest more than €500,000 in property in Spain. The growth of real estate offers for sale in Spain is fixed almost in all market segments. That means prices will also start rising soon. This market renaissance won’t be immediate so the profit reselling of property will need few years.
Where to buy property in Spain?
Speaking about buying property in Spain, one have to take into consideration that average prices vary, depending on the region. Stable demand for commercial real estate and affordable apartments for short-term renting out is fixed in Barcelona and famous Spanish “costas”. Among the demand hotspots are also Balearic Islands, Mallorca, Madrid and Valencia. In Malaga, Costa del Sol and Costa Brava are in demand holiday and retirement houses. The glamorous areas of Marbella are offering luxury villas, good service and shortage of available property. The most depressive regions, in terms of selling property in Spain, are Aragon and Murcia.
Property for sale in Spain
Prices for decent property in Spain are not low despite the years of market gloom. One or two-bedroom apartment of 60-70 sq.m., located in central Barcelona costs about €250,000-280,000. If your budget is lower, pay attention to Costa Blanca or Costa Dorada. There are some really cheap property offers in Spain. For example, a small fully equipped and furnished two-bedroom apartment at the ground floor, in a 15 minutes walk away from the beach in Torrevieja costs only €49,000. But be ready to invest some extra sum in renovation. The average house prices are about €450,000-600,000.
Resale property in Spain - there is no need to hurry!
The increase of sales of real estate in Spain is the strongest sign that the market is about to recover. Mortgage rates in Spain are one of the lowest in the EU zone. But if you count to resale property in Spain with good profit, you’ll have to wait. This patience will be rewarded soon!