Spanish property investment in 2010
With property markets in the UK, America, France and Spain in decline and in the headlines on a daily basis, right now might be the right time to buy a place in sunny Spain?
Armed with good research, the right professional advice and a dilligent Spanish lawyer, anyone thinking seriously of investing in the Spanish property market could make a killing. There are thousands of completed properties in prime areas of the Costa del Sol and Costa Blanca that are "safe and sound" and can be inspected and snagged in detail.
Many of these can be purchased for up to 50 percent of the original asking price as developers make a dash for cash and seek to unload their remaining stock.
There are Brits who are in limbo because their developer has hit the rocks, other Brits who are fighting land-grabs in Valencia and countless others who can't afford to complete their deals or need to sell in a falling market. Because these development "black spots" are known, new buyers can steer well away. Likewise the Spanish Government has moved quickly to clean-up the real estate sector and ensure there is more transparency.
Like the banks and other leading institutional investors, Property in Spain cannot forecast when prices will start to rise again, but it is unlikely that demand for property in Europe’s favourite holday destination will diminish much further as the base attractions of climate, culture and accessibility remain.
Because of world-wide demand for holidays and second homes, Spain is likely to remain the biggest property market in Europe - three times the number of finished homes per year compared with the UK - and with house prices at their lowest level for years, it could be the right time to grab a bargain home in the sun.
However, what is certain is that some areas will do better than others and our Network of property professionals in the UK and Spain will strive to ensure our buyers receive the most relevant investment information and benefit the most…
Asking the right questions makes sure you get the right investment advice that’s best for you and we suggest you start with the helpful website and literature of the Financial Services Authority.
Then keep checking our associate Spanish Property blog for "broad brush" information on the state of the market and the scores of onward links to other leading property sources in Spain, USA and UK.
Useful research
Troubled developers & legal help | Development black spots & warnings
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