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Investment Property SpainConsistent rises in Spanish investment property prices make Spain one of the most attractive economies for property investors. Annual property price growth at 15.7% (1 st Quarter 2005. Source: Spanish Housing Ministry) continues to outperform all European Union countries and remains a major property growth centre in the world economy. “Spanish property price increases during the final quarter of 2004 were the 3rd highest in the world, at 17.2%, behind South Africa (29.6%) and Hong Kong (28.7%)”(The Economist, 2004) A large proportion of the growth in Spanish investment property prices can be linked to a rise in the standard of living, and major improvements in the infrastructure and economy as Spain catches up with the more advanced countries in Europe.
Economic Stability for Spanish Investment PropertyMortgage rates for spanish investment property remain low compared to the European average. Many of the emerging property markets such as Bulgaria, Turkey and Croatia do not share the same underlying stability and the majority of developers do not offer guarantees on off plan developments making securing a mortgage very difficult. The developed Spanish financial infrastructure means that a number of high profile international banking groups such as Halifax and Barclays offer mortgages on investment property in Spain.
Investment Property Spain: Market ChangesIn recent years Spain has experienced significant changes in the tourism market according to consultancy firm Irea with a decline in the hotel sector of 5% since 1999, as increasing numbers of holidaymaker's now stay in their own properties (8.9%) or rent properties (7.7%). The falling prices of air fairs to Spain and the increase in the number of passengers flying to Spain mean that this trend towards so-called ´residential tourism´ is expected to continue. Spain remains the major destination for UK flights with 30% of all passengers traveling to Spain (Source: Office of National Statistics)
UK Investment in the Spanish Property MarketInward investment in the Spanish property market amounted to 8.4 million euros in 2004 (Source: Lighthouse) with the majority of property investors coming from the UK. British investors bought 50,000 Spanish properties in 2004 with an estimated 250,000 Spanish properties owned by Britons. A recent report commissioned by investment bank Alliance & Leicester International concluded that by 2020 and additional six million Britons (over 10% of the domestic population) will venture abroad to live or work, the major destination is expected to be Spain. |
Featured Investment Property Spain
3 Bed Townhouse from € 160,000 (EUR)
El Valle Golf Resort (Polaris World) 2 Bed golf property from € 211,654 (EUR)
El Valle Golf Resort (Polaris World) 5 bed golf property from €: 1345113 (EUR)
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