Spain is already developed; it is the 9th developed country in the world and the 5th in the European Union. Golf clubs in Girona, El Golfo beach in Lanzarote, natural beauty of Aragon River, Pilar Fiestas in Zaragoza, majestic San Lorenzo monastery in Elescorial, blend of history and modernity in Seville are enough to make a visit to this multicultural country worthy of preserving in the museum of memory for long time.
As if this is not enough, development work in Spain is still going on at a fast pace making some part of the country nothing less than ‘heaven on earth’. After long years of hibernation, the coastal areas have come into life and shaped them into ideal destination for holidaying as well as permanent living. This results in a craze for Spanish property all over Europe in general and Britain and Germany in particular.
Some of the coastal regions in Spain boast of being in the list of the hottest holiday destinations in Europe. It is primarily because of the climatic condition of areas like Costa del Sol and Costa Blanca that a huge lot of tourists rush to Spain round the year. With a moderate temperature that revolves round 18º Celsius in winter and 30º in summer, Spanish properties offer exciting and relaxing stay for any visitor. Together with this, there are the festivity, night life and lots of amusement facilities.
So, not only a brief sojourn, but also a permanent living in Spain become exciting and yet full of relaxation. If there are people who want to live in or stay for vacationing in Spain, then there are people who manage accommodation for them. Spanish property agents offer two way services; to those who want to buy or rent property and those who want to sell or let property. They are the bridge between owners and tenants, buyers and sellers.
The Spanish property (real estate) market has plainly suffered over the last few years as the United Kingdom is just starting to now. The boom years of the early part of this century when cheap prices fuelled an enormous demand with the help of easy mortgages has now given way to falling prices and tough criteria on mortgage lending. A few years ago if you wanted to buy a villa, you popped into the local Spanish bank, filled out a form (few if any checks were made) and it was yours. Now they want proof of income, valuations and at least twenty five per cent deposit.
The re-adjustment in Spanish property prices is obvious for all to see, ten years ago a nice apartment could be bought for about perhaps 10 per cent of a similar one in the UK, if the price went up the good old peseta was devalued. Then along came the Euro ending this, probably for ever, prices rose until they were unaffordable or unattractive, the boom turned to bust.
Prices at first stagnated then fell and today the fact is if you want to sell your Spanish property (whether it is a villa or apartment) the price has to be realistic, the queues of punters have gone! Recently this has been exasperated by the continuing sub prime crisis and the continual downturn in the UK market (the British buyers have always out numbered all the other nations together). Every time the headlines in the UK press feature another piece about the UK house prices falling, it understandably leads to fewer buyers considering buying Spanish property.
Buyers are still out there though and there are bargains to be found, not in the middle of nowhere either, in prime holiday and tourist centres. So if you have the money or are capable of servicing a reasonable mortgage, my advice would be to "go for it" now. Do your research first, check out the area of your choice and nearby towns to make sure they are not overpriced. Remember that some of the best priced of the Spanish properties that each agent has never get into brochures, price lists or onto websites because they get sold to quickly.
Remember too, that it is very much a buyers market, so even after you find what you consider to be a sensibly priced Spanish property, haggle! Make them an offer and not just a few euros less, make it a great deal less, in fact if you cannot get another ten per cent off I would be amazed.
Both Brittney Jackeline & Gary Marshall are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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