Location, lifestyle, and the local economy will impact your purchasing decision, and you need to make sure that buying Spanish property is a good fit for your family. The lifestyle combined with low house prices makes Spain an ideal location for many, but let’s take a look at these factors in detail before you sign on the dotted line.
1. Location
If one of your needs is to be close to the UK then buying Spanish property is a good choice. You can readily hop on a plane from any UK airport and be at your dream house in Spain within hours. The same applies to potential tenants - if you can sell your property as an easy weekend or holiday break destination, close to famous beaches, city hotspots, or popular tourists attractions, then you will make a good return on your investment.
2. Economy
It’s important to take a long-term view, and that includes market trends and the local economy’s general health. Although many European countries suffered due to the 2008 global economic crises, they are making a steady comeback.
Currently, the biggest property investment bargains are pointing towards southern and eastern Europe. If you’re just out to make a profit then you might prefer eastern Europe. However, if you want a place that’s closer to home to be enjoyed by your family then buying property in Spain fulfills both these needs.
Spain’s economy is also faring very well. For example, the Bank of Spain predicted a 2.8 % economic growth rate in 2015 and 4.2% average growth for residential investment in 2015. Last year, this increased by estimated a 2.4%. The pound’s strong buying power also makes Spanish real estate an affordable investment.
3. Lifestyle
This is the single most important factor after affordability. Any foreign country will provide you with a wonderful change in culture and cuisine for you and your tenants. You need to determine what lifestyle and investment you’re after. Are you looking for a balance between growing your investment and enjoying your family holidays, or do you want a small plot of land off the beaten track that you can exclusively enjoy but doesn’t yield much rental income?
Spain has splendid weather all-year-round and excellent health benefits. Because of the climate, there’s a wealth of outdoor pursuits to explore, from golf, cycling and hiking to water sports such as sailing, surfing, or paddling. Of course, they also have a rich cultural history and are renowned for their delicious cuisine. Buying property in Spain is ideal if you enjoy the outdoors, want to be close to home, don’t mind tourist season and enjoy a leisurely-paced way of life.
If Spain’s location, economy, and lifestyle appeal to you, then you’re sure to enjoy many days beneath the Spanish sun. Investing in property abroad comes with differing legal and tax implications that you need to know about before buying your holiday apartment. If you’re keen on beach holidays, then you should see you beautiful apartments in Calpe for sale along the Spanish coast.