The general consensus this year seems to indicate the Spanish housing market is on the up-and-up. The primary reason for this seems to be the lure of cheap and so very affordable property – particularly compared to the United Kingdom. See more here. Since the crash hit Spain in 2007 the property market has been flooded. With so many properties available owners know if they want to sell they have to keep the price very competitive. This is extremely good news for anyone looking for a property bargain in Spain.
Tourism continues to be booming throughout Spain. Because of this investors are looking to buy property they can rent. There are seventeen regions in Spain, which can seem a little daunting when trying to decide where to buy. Rental prices vary quite substantially from region to region as do the laws and other government rules and regulations. When purchasing a property to rent, how much should be expected back is a vital point. That 5 bedroomed house with a pool might seem like a bargain but it is important to find out what the “going price” is for similar properties as well as demand. If you are only looking at summer rental for example, is it feasible to lay out the costs of buying that property as well as running it. With apartments service, costs can be heavy. Keep a keen eye out for those “hidden extras”. Weigh up the cost v returns – This is absolutely vital.
Haggle… Haggle and Haggle some More
Without doubt, it is a buyers market. This means that most owners are up to haggling! With this in mind, always try to negotiate the price down.
Where are the Most Popular Regions?
Murcia and the Costa Blanca have always been very popular and remain so today. This is primarily due to the fact both are easy to get to with airports close by. Oriuela, Torrevieja and smaller towns such as Benissa, Denia and Calpe have an excellent range of properties available from as little as around fifty-five thousand for a studio or smaller apartment. The smaller fishing villages offer up amazing landscapes and have a more traditional Spanish feel to them. For those who like the city atmosphere more, Torrevieja and North Benidorm are popular spots. Murcia is inland and has always been good for a bargain hunter, even in the height of the property market.
Today you can pick yourself up a bargain for as little as thirty thousand. If you are willing to renovate, the bargains are certainly there to be had. All in all, the same “rules apply” wherever you choose – Negotiate and if intending to rent ensure you really can get some return on your investment.